National Association of Real Estate Brokers (NAREB) to Meet in Long Beach, CA With a Plan to Help Black Americans Build Wealth Through Homeownership
Washington, DC – Black real estate professionals, sounding the alarm that Black Americans have not benefited from the nation’s economic recovery, will convene at the 69th Annual National Association of Real Estate Brokers (NAREB) Convention under this year’s theme, “Building Black Wealth through Homeownership.” A key element, anticipated by the 800 real estate professionals, financial services and mortgage executives, housing counseling experts, thought leaders, and government officials expected to be in attendance is the unveiling of NAREB’s “Two Million New Black Homeowners in Five Years” initiative, a multi-faceted program designed to increase Black homeownership and improve wealth-building futures for Black Americans. The four-day conference is scheduled for August 12-16, 2016, at the Westin Long Beach Hotel, 333 East Ocean Blvd., Long Beach, CA.
“NAREB is prepared to do the groundwork and lead the charge to build wealth in Black America. We know that owning a home represents the most solid stepping stone to economic recovery and building legacy wealth,” said Ron Cooper, NAREB’s 29th president.
The U.S. Census Bureau in its most recent report issued as of the second quarter 2016, indicates that the homeownership rate for Black Americans is 41.7 percent, down from a high of 49.6 percent in 2004. In comparison, the current homeownership rate for non-Hispanic whites is 71.5 percent, down from a 2004 high of 76.7 percent. “I want to re-instill the belief that homeownership is a noble aspiration and the basis of building wealth in the Black community,” Cooper added.
Keynoting the convention’s opening session, scheduled for Sunday, August 14, 2016 at 10:00 a.m. is presidential appointee, the Honorable Julian Castro, Secretary, U. S. Department of Housing and Urban Development (HUD), who is expected to address policy issues affecting Black homeownership.
Following Secretary Castro’s presentation is nationally-acclaimed Black economic empowerment advocate and activist, Maggie Anderson, known for living a year purchasing only products and services from Black-owned establishments, captured in her book, “My Black Year.” Dr. Pamela Jolly, NAREB’s Strategist, will also present the framework and strategies supporting the roll-out of the Black trade association’s “Two Million New Black Homeowners in Five Years” initiative.
The Monday “View from the Hill” Legislative Breakfast features U.S. Congressman Alan Lowenthal (CA-47), Larry Parks, Senior Vice President, External and Legislative Affairs, Federal Home Loan Bank of San Francisco, and Elizabeth Mendenhall, 2016 1st Vice President, National Association of Realtors. Michael Grant, National Bankers Association (NBA) President will serve as the convention’s keynoter at the Tuesday night closing banquet.
NAREB is also devoting a day to connect with Los Angeles and Long Beach-area residents about the long-term benefits of homeownership. NAREB’s free Community Wealth Building Day is a consumer education event scheduled for Saturday, August 13, 9:00 a.m. – 2:00 p.m. at the Long Beach Convention Center. Consumers can get answers to their questions about the home-buying process, learn how to purchase a home by using low down payment mortgage financing, along with down payment assistance programs and grants that make homeownership affordable and sustainable.
For Convention registration and Community Wealth Building Day information visit: www.nareb.com.
The National Association of Real Estate Brokers (NAREB) was formed in 1947 to secure the right to equal housing opportunities for all regardless of race, creed, or color. NAREB has 90 chapters located nationwide and publishes annually The State of Housing in Black America (SHIBA) Report. Visit www.nareb.com for more information. Or call 301-552-9340.