National Association of Real Estate Brokers (NAREB) is working with the African American Mayors Association and the National Bar Association to present the Houston stop on the Building Black Wealth Tour. The Houston stop is Saturday, October 7.
Over the next two years, the tour will include more than 60 cities as NAREB organizes classes, workshops, and one-on-one counseling to advise families on homebuying, investing, and careers in real estate.
There is also a course on heir's property, educating people on how to properly pass along real estate and protect themselves from gentrification.
Why is this needed? The Federal Reserve says, on average, Black families own about 24 cents for every $1 of White family wealth. Homeownership, a critical component of Black wealth, declined for Blacks nearly every quarter since the pandemic, leaving Blacks with the lowest percentage of homeowners in America.
Yet, the NAREB State of Housing in Black America (SHIBA) report says there are more than two million mortgage-ready Black Americans. These families and individuals have the credit and income to qualify for a home mortgage. The NAREB Building Black Wealth Tour will go to communities nationwide, find these consumers, educate them, and inspire them to build wealth.