GOALS FOR THIS PRESENTATION
1. Define racial equity and why it matters
2. Share how we frame the topic of racism and its impacts
3. Provide an overview of the Bank’s work in this area
Your source for articles, white papers and reports that motivate our mission to increase wealth and homeownership in diverse communities across America.
The Change Company, America’s Community Development Financial Institution (CDFI), announced today that its founder Steven Sugarman presented to the 74th Annual National Association of Real Estate Brokers (NAREB) Convention in Cleveland, Ohio. Mr. Sugarman spoke during the Legislative Forum and discussed the unique opportunity for advocacy that exists for NAREB and The Change Company to impact public policy and end government sponsored or sanctioned redlining in America. Mr. Sugarman discussed advocacy positions which would help to immediately expand homeownership across the Black community and begin to reduce the wealth gap between Black and white families in America.
Homeownership remains the primary means by which most households in this country can attain wealth.Yet many families—especially those of color—are locked out of the opportunity to buy homes of their own. Homeownership rates in low- and moderate-income (LMI) communities and for people of color have historically been considerably lower than other groups, making it one of the largest drivers of the racial wealth divide. Barriers to accessing mortgage finance are a major explanation of this.
The average net worth of Black families is $142,330 — or just one-seventh of the $980,550 in wealth accumulated by white Americans, according to a new study from LendingTree that draws on data from the Bureau of Labor Statistics, the 2020 Economic Policy Institute report, and various Federal Reserve reports.