Ep 4 Black GenX-ers and Millennials May be the Key to Reversing the Downward Black Homeownership Trend
2019-11-04
Special guest, Tanisha Broadway, 1st VP of Sac Realtist Assoc (NAREB) Urges Black Millennials to Become Homeowners With The Launch of “House Then The Car” Initiative Campaign.
National Association of Real Estate Brokers (NAREB) kicks off nationwide program to reach the 1.7 million Black, mortgage-ready Millennials about homeownership as a wealth building tool.
“NAREB is sounding the alarm. Black homeownership is at a critically low point and could slip even further in large part due to the enormous obstacles faced by Black millennial households attempting to access mortgage credit as stated in NAREB’s 2019 edition of the State of Housing in Black America (SHIBA) report,” said Donnell Williams, president of the National Association of Real Estate Brokers (NAREB). As of the second quarter 2019, the Black homeownership rate slipped to 40.6% representing a full percentage point below the 2018 rate of the same period. In comparison, the non-Hispanic White homeownership rate for the same periods held at 73.1%.
The House Then the Car local events assist GenX-ers and millennials prepare for homeownership and real estate investment. Participants will learn about the importance of debt to income (DTI) ratios and how it affects your ability to purchase or invest. Attendees learn how to calculate DTIs, how to reduce debt, and how to make your real estate investments work, among other topics that de-mystify the mortgage loan process and how to be home purchase ready.
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