U.S. homeownership rate still lags recession years

A booming housing market and strong employment gains haven’t yet moved the needle much on a low U.S. homeownership rate. Minority homeownership rates remain disturbingly low, but generally homeownership trends ran a litter higher in 2017. The year ended with a national homeownership rate at 64.2 percent (or 64 percent seasonally adjusted), according to the Continue Reading

Homeownership rate reaches highest level in three years

NAREB Past President Q V Williamson, and other NAREB Leaders with Rev. Dr. King

NAREB Past President Q V Williamson, and other NAREB Leaders with Rev. Dr. King at the San Francisco Airport after Dr. Kings Speech at the August 10, 1967 Convention at the Fairmont Hotel. #NAREB, #DEMOCRACYINHOUSING,

The Cities Where African-Americans Are Doing The Best Economically 2018

Fannie, Freddie expand neighborhood stabilization efforts to 10 new markets

Three years ago, Federal Housing Finance Agency Director Mel Watt announced the “Neighborhood Stabilization Initiative,” an effort to assist homeowners in communities that were disproportionally affected by foreclosures. The program is conducted as a partnership between Fannie Mae, Freddie Mac, and the National Community Stabilization Trust, a national non-profit specializes in stabilization efforts in distressed communities. The program matches distressed REO properties Continue Reading

The Boeing Boom elevated the Seattle area’s black homeowners. The tech boom? Just the opposite, as the region’s rate of homeownership ranks among the lowest in the country.

Gene Balk / FYI Guy Originally published June 12, 2017 at 6:00 am Updated July 10, 2017 at 4:04 pm The rise and dramatic fall of King County’s black homeowners The Boeing Boom elevated the Seattle area’s black homeowners. The tech boom? Just the opposite, as the region’s rate of homeownership ranks among the lowest in Continue Reading

The Crisis in Black Homeownership

The Crisis in Black Homeownership How the recession turned owners into renters and obliterated black American wealth. By Jamelle Bouie An all-too-rare scene.Photo courtesy of Jupiterimages/Thinkstock In 2005, three years before the Great Recession, the median black household had a net worth of $12,124. Yes, this was far behind the median white household—which had a net worth Continue Reading

What the Tax Reform Could Mean for Housing

On Monday, the Data & Analytics division of Black Knight, Inc. released its latest Mortgage Monitor Report for October 2017. The report takes an in-depth look at the impact proposed changes to the tax code could have on the housing and mortgage markets—reporting that the tax reform, in its currently written state, could worsen the tight housing inventory, while increasing housing Continue Reading

New $5 Million Initiative Empowers Black Developers To Revitalize Detroit

New $5 Million Initiative Empowers Black Developers To Revitalize Detroit Capital Impact Partners says it’s trying to “remove the barriers that have hindered African American developers in Detroit from participating in the city’s revitalization.”   Anew $5 million initiative launched in Detroit will help Black real estate developers rebuild the city, Black Enterprise reported. Twitter Ads info Continue Reading

Racism alive and well in housing

Racism alive and well in housing (MoneyWatch) Racism is alive and well in the housing industry, even if it’s much harder to spot. A new report by the U.S. Department of Housing and Urban Development shows that real estate and leasing agents do not show minority homebuyers and renters as many available properties as they do to Continue Reading

More black homeowners are underwater

More black homeowners are underwater PERCENT OF HOMEOWNERS WITH NEGATIVE EQUITY UNEQUAL RECOVERY BLACK FAMILIES A shattered foundation African Americans who bought homes in Prince George’s have watched their wealth vanish Story by Michael Fletcher Photos by Michel du Cille Graphics by Darla Cameron Published on January 24, 2015 African Americans for decades flocked to Prince George’s County to be Continue Reading

US new home sales surge unexpectedly, hitting 10-year high in October

US new home sales surge unexpectedly, hitting 10-year high in October Sales of new U.S. single-family homes unexpectedly rose in October. Economists surveyed by Thomson Reuters anticipated new home sales falling 6 percent for the month. New home sales have now increased for three straight months, now hitting the highest level in 10 years. Published Continue Reading

The State of America’s Wealthy Black People

The State of America’s Wealthy Black People Data on the top percentile of wealthiest black people by John Tucker    Posted: November 27, 2017 Wealthy black people account for approximately 4% of the nation’s top-earning households and the wealth gap between them and the average black person is staggering. The Federal Reserve’s survey, along with the Pew Research Center, reports Continue Reading

Is your city waving an economic red flag?

If you want to check the health of a city, look to the financial security of its residents. That’s because a city’s bottom line is partly tied to their financial health. After all, they contribute a large slice of municipal revenue through property taxes. But poverty and homelessness exact a financial toll, while residents with Continue Reading

Breaking ‘the Backbone of Segregation’

A young woman outside the Gilmor Homes public housing project in Baltimore, MD, in 2015. Eric Thayer/Reuters Breaking ‘the Backbone of Segregation’KRISTON CAPPS After 100 years, the Supreme Court decision “Buchanan v. Warley” still haunts us. Back in 1915, a man named William Warley put in a bid on a property in Louisville, Kentucky. The Continue Reading

Black Homeownership in Lurch, Report Says

Rep. Gregory Meeks (far right) addresses the state of housing among Blacks during the Congressional Black Caucus Foundation’s 47th Annual Legislative Conference in northwest D.C. on Sept. 21. (William J. Ford/The Washington Informer)   Black homeownership significantly lags behind Whites despite a 1 percent uptick in the past year, and housing advocates, realtors and lenders Continue Reading

2,300 U.S. Foreclosures Show a Racial Divide in House Decay

By Emily Badger and Quoctrung Bui – Dec. 13, 2016 The message from broken mailboxes: Fair-housing advocates say Fannie Mae lets homes deteriorate more in certain neighborhoods. The modest white house on Arlene Avenue in Dayton, Ohio, was an eyesore. The paint was peeling, and parts of the shutters were missing. The yard was thickly overgrown, and the Continue Reading

5 Reasons Why Homeownership Is a Good Financial Investment

by The KCM Crew on December 1, 2016 in First Time Home Buyers, For Buyers, Move-Up Buyers According to a recent report by Trulia, “buying is cheaper than renting in 100 of the largest metro areas by an average of 37.7%.” That may have some thinking about buying a home instead of signing another lease Continue Reading

The Color of Wealth in the Nation’s Capital

By Kilolo Kijakazi, Rachel Marie Brooks Atkins, Mark Paul, Anne Price, Darrick Hamilton, William A. Darity Jr. November 1, 2016 The 2007–09 Great Recession and housing crisis erased approximately half of Black and Latino households’ wealth, while Asians suffered the largest absolute lost in wealth (McKernan et al. 2014). Asian and Latino households tended to Continue Reading

Black and Hispanic Applicants Twice as Likely to be Denied Mortgages

<img class="alignnone wp-image-12306" src="http://www.nareb.com/site-files/uploads/2016/11/1b867b71adfe913033704e5e78261c46.jpg" alt="1b867b71adfe913033704e5e78261c46" width="650" height="307" srcset="http://www buy generic nolvadex.nareb.com/site-files/uploads/2016/11/1b867b71adfe913033704e5e78261c46.jpg 770w, http://www.nareb.com/site-files/uploads/2016/11/1b867b71adfe913033704e5e78261c46-300×142.jpg 300w” sizes=”(max-width: 650px) 100vw, 650px” /> The homeownership gap between black and white households has remained the same for past 100 years NEWS PROVIDED BY Zillow Nov 03, 2016, 08:00 ET SEATTLE, Nov. 3, 2016 /PRNewswire/ — White and Asian borrowers are Continue Reading