Rebuilding wealth among Black Americans through homeownership is the focus of the Mid-Winter Regional Conferences to be convened by National Association of Real Estate Brokers (NAREB).
Homeownership rates continue to stagnate from a high of approximately 49 percent prior to the recent, economically-disabling recession that started in 2006, to a now intractable low of 42 percent.
Strategy sessions encouraging Black Americans to become homeowners, coupled with a laser-focused advocacy campaign addressing public policies, private practices and regulations obstructing fair mortgage lending will be covered at NAREB’s first of four national hub conferences scheduled.
The theme of the conference is “Rebuilding Black Wealth Through Homeownership,” runs Feb. 18-20, at the Hilton Garden Inn, 1800 Powell St. in Emeryville.
“NAREB is taking the lead to re-build Black wealth through homeownership. NAREB’s goal is to increase homeownership for Black Americans by two million in five years,” said Ron Cooper, president of the National Association of Real Estate Brokers (NAREB) which has been fighting for Democracy in Housing for Black Americans and professionals in the real estate industry since its founding in 1947.
Latest available mortgage lending data for Oakland indicates that of the 2,112 loans made in 2014, only 67, or 3.2 percent (3.2 percent) of those loans were granted to Black American purchasers; who represented 27 percent (27 percent) of the city’s population.
The report also noted that the average loan amount in Oakland in 2014 was nearly $400,000.
“The situation in Oakland is not unlike other parts of the country. NAREB’s mission is to ensure that Black Americans and others adversely affected by the devastating economic meltdown have the opportunity to rebuild their economic legacy that was destroyed or drastically diminished during the nation’s near financial collapse, Cooper added.
On Saturday, Feb. 20, NAREB is convening Community Wealth Building Day at the Oakland City Hall, 1 Frank O’Gawa Plaza. The free event is open to the public to help Black Americans learn why owning a home can positively change their financial futures.
Also, there will be educational sessions designed to help residents better understand the home buying process and how to sustain a newly purchased home.
The Community Wealth Building Day culminates NAREB’S 2016 Mid-Winter Regional Conferences; this year being held in four hub cities. The three-day professional real estate conferences are being held in: Oakland (February 18-20); Memphis, TN ((March 10-12); Philadelphia, PA (April 7-9), and Chicago (April 21-23).
For more information and to register for the professional real estate conferences, visit www.nareb.com.