By Janis Ware, Word In Black Growing up in the segregated South, the family was my world. And that extension of my family included neighbors, teachers, administrators, and preachers. These individuals were my influencers. They guided our paths and directed the way for us to be the best individuals we could be. They loved us […]
Category: NEWS
Posted inU.S. Government
Biden has power to impose rent control, say housing advocates
By Meir Rinde, Shelterforce Progressive advocacy groups are calling on the Biden administration to impose rent control on tens of millions of homes in response to soaring rent increases. With rents up 5.8 percent nationally compared to a year ago, and some measures showing even bigger hikes, the president must use his authority over the […]
Posted inWashington D.C. News
Mayor Muriel Bowser unveils $10M plan to increase Black homeownership
By Jamila Bey, Word In Black Mayor Muriel Bowser announced a $10 million Black Homeownership Fund this year as part of the District’s 2023 budget that seeks to tackle long standing racial disparities. With the goal to increase Black homeownership and helping longtime residents to be able to stay in their home, Bowser has created […]
Posted inWashington D.C. News
Black DMV homeowners ban together to build equity
By Aja Beckham, Word In Black Ownership Matters, a collective of Black homeowners, established a tradition to gather for an annual photoshoot on June 18 in front of Fredrick Douglass’s historic home in Southeast. “About 150 folks came together in front of Fredrick Douglass’ house take a big group photo,” said Gregory Jackson, founder […]
Posted inBaltimore News
Skewed figure: how biased appraisals are underestimating the value of Black homes
Baltimore couple’s home rises nearly $300,000 in value after White colleague stands in for appraisal By Megan Sayles, AFRO Business WriterReport for America Corps Membermsayles@afro.com and Kara Thompson, Special to the AFROkthompson@afro.com Nearly a year ago, Baltimore couple Nathan Connolly and Shani Mott decided that they would capitalize on the housing market’s historically low interest […]
Posted inBUSINESS
Real estate expert opinion: what to know before you buy a home
By Megan Sayles, AFRO Business Writer, Report for America Corps Member msayles@afro.com When it comes to building generational wealth and closing the racial wealth divide, homeownership has become a key pathway. Buying a home is a long-term investment, and because houses typically tend to appreciate, it’s one that pays off overtime. As homeowners pay off […]
Posted inNational News
Black millennials are trying to close the gap in homeownership
By Nicole D. Batey, Special to the AFRO, nbatey@afro.com Millennial buyers are the primary driver of Black homeownership in the U.S. Housing market right now. Many are leaving rental life behind to purchase their first home or investment property in pursuit of having equity and building wealth. According to Realtor.com estimations, there will be at […]
Posted inBaltimore News
Black-led mortgage company announces new program for Black Baltimoreans
By AFRO Staff Legacy Home Loans, one of the leading Black-led mortgage firms in the country, recently announced a mortgage loan called “Closing the Gap.” The loan was created to assist Black Americans in becoming homeowners and will target those seeking loans in six major cities across the nation. The Las Vegas-based company recently announced […]
Posted inNational News
It’s not easy getting a home loan – racial bias makes it nearly impossible for many Blacks
By Stacy M. Brown, NNPA Newswire Senior Correspondent, @StacyBrownMedia In data released earlier this year from the Federal Home Mortgage Disclosure Act, major disparities exist in home loan approval rates between African Americans and Whites. Nationally, the purchase mortgage denial rate for Black homebuyers is twice as high as the denial rate for the overall […]
Posted inBaltimore News
Inside look: recipients of increased first-time homebuyers incentive sound off about experience
By Tashi McQueen, AFRO Political Writer, Report for America Corps Member, tmcqueen@afro.com More than 50 first-time homebuyers in Baltimore have received a $10,000 incentive to help with the cost of purchasing their homes. The incentive increased on May 1 after Mayor Brandon Scott doubled the incentive from $5,000 to $10,000. Natasha Carter and Ashley Johnson, […]
Posted inNational News
Women working through housing instability, other challenges
By Genoa Barrow, Word in Black Women’s Empowerment, a nationally-recognized resource for Sacramento folk experiencing homelessness, is set to graduate its latest group of participants this month. When Shanitra Brown walks across the stage, she’ll be supported by her four children. Her cheering section ranges in age from four to 12 years old. The oldest, […]
Posted inNational News
We’re still here: the AFRO highlights the importance of Black homeownership, Black realtors and housing policy
By Frances Murphy “Toni” Draper, AFRO Publisher When I was a young child, my mother, my brother, my sister, and I made weekly trips to the “country,” as we called our grandparents’ home. It took nearly an hour to travel from our West Baltimore home, near Elgin Avenue and Poplar Grove Street, to the end […]