The housing bust had many Americans questioning the benefits of homeownership and return to the notion that renting is better. We experienced homeownership rates decline and builders halt many...if not all projects. African Americans were amongst the worse hit during this recession. Fewer African Americans own their home than any other racial group. Over the last decade, African American homeownership has shifted from approximately 48% to currently 41%. Ultimately making it difficult for them to achieve wealth...let alone Generational Wealth.
Homeownership long has been a key cornerstone to Americans' ability to amass wealth. Even with the decline of wealth during the housing bust, the average net worth of a homeowner is 36 times greater than that of a renter, according to the Federal Reserve Survey of Consumer Finances.
As Realtist, our goal is to rebuild the Dream of Homeownership throughout the Central Valley. Homeownership builds families, provides stability within the family, transforms communities, and builds wealth. Asset building is an important means to provide upward financial mobility and pathways to passing on wealth for a positive economic future.
As Realtist, we advocate for equal opportunity and housing...as everyone deserves the opportunity to have access to affordable and sustainable homeownership. Our goal is to educate and empower members of the community on making smart homeownership investments that will help them build generational wealth. What better gift can you give your children then to to give them a lasting legacy that will last generations?
D'Adrea DaviePresident, Central Valley Reatist Board of NAREB