Navigating Homeownership as a Minority
Navigating homeownership as a minority involves exploring resources specific to your community and the community in which you want to live in. For decades, the homeownership rates of minorities has been on the decline, with Minnesota, the rate has increased marginally, but not enough to make a lasting difference. With over 20% of our population, minorities creating sustainable wealth opportunities through real estate is crucial for the cyclical aspect of generational wealth.
A great Minnesota resource that can help with homeownership would be The Metropolitan of Consortium Community Development. This CDFI (Community Development Financial Institution) focuses on affordable options without racial barriers. The National Association of Real Estate Brokers has a new initiative focusing on Black Homeownership (Two Million New Black Homeowners Program (2Mn5) - National Association of Real Estate Brokers (nareb.com) ). Keep in mind some of your local non-profit organizations, as they will have resources for the types of needs you have.
As you continue on your homeowner journey, stay tuned for a variety of educational resources, seminars, and events, focused on closing the racial wealth gap in Minnesota through homeownership and real estate investments.