Break Down Institutional Barriers
The homeownership disparities and racial inequality we see today are not new or by happenstance. Systemic racism in the housing industry has had a profound negative impact on economic outcomes and wealth building opportunities for generations of Americans. Until we address housing disparities, we will not see meaningful, generational change for many of our communities of color in the United States.
At HomeServices Foundation for Housing Equity, we know that we can and must do more to break down institutional barriers while providing resources that will drive an inclusive and equitable housing industry.
Building on HomeServices’ experience in the housing industry, the HomeServices Foundation for Housing Equity will provide homeownership tools, training, and financial resources to support the long-term economic growth of underserved communities.
One of the key factors to achieving generational wealth and economic opportunity is through job creation. To create long lasting change, we are committed to increasing participation and supporting career achievements for people of color in the real estate industry. The HomeServices Foundation for Housing Equity will work to support scholarship opportunities, education, recruitment and other programs which increase minority participation and success. We are dedicated to supporting opportunities to promote the highest professional standards of inclusivity in hiring and employment across the industry.
The Foundation will also look to partner with other real estate trade groups, fair and equal housing advocates, and financial services institutions to create sustainable and successful homeownership for unII.
The racial gap in the homeownership rates for Black communities compared to white communities is larger today that it was 50 years ago, when racial discrimination was legal. According to the US Census Bureau (20__), the white homeownership rate is 73.7%, while the rate is just 44% for Black Americans. This gap serves as a tremendous barrier to financial stability and the accumulation of generational wealth.
To decrease the gap, we are committed to increasing access to sustainable homeownership through direct financial assistance. Some of these programs include:
It takes a village to support long term financial success. That’s why HomeServices Foundation for Housing Equity is committed to investing directly in the communities we serve to create long lasting partnerships for change.
We will partner with a wide range of nonprofit relationships to promote and support organizations and programs to provide financial assistance, homeownership education programs, employment training, and more to ensure we create sustainable opportunities for homeownership and economic mobility.