ROAD TO HOMEOWNERSHIP
Our initiative reduces local-level barriers related to African American homeownership
and helps more renters get on a pathway to becoming homeowners.
Historically, homeownership has been the best way to build wealth and remains, for most households, more financially beneficial than renting. Accordingly, the increasing and sustained loss of access to this major wealth-building tool makes it harder for black Americans to close the wealth gap.
Let me put that into perspective for you. An African American family in 1960-- when private race-based discrimination was still legal--was equally as able to buy a house, as an African American family today.
Since 2001, the black homeownership rate has seen the most dramatic drop of ANY racial or ethnic group and is a major contributor to the overall wealth gap in the African American community.
The gap plays an enormous role in if your children and grandchildren will struggle financially as adults. Modernoire is committed to helping local African American and minority families become homeowners in 2020. Through free and fee-based programs and events, our homebuyer catalyst plan is creating homeowners. Join Us. Change your family legacy in 2020!