According to a recent Housing Kent study, the homeownership rate for Black residents in Kent County is 34%, with white homeownership at 76%.
“Part of the reason why home ownership for Black people is low at times is not because they can’t afford it.”
As Alicia Johnson, a member of the Greater Regional Alliance of REALTORS and co-chair of the forum, entitled “Understanding the Past, Informing the Future” explained it, there’s a need for increasing outreach and real estate literacy.
“We really just want to get out there in the community and let people know that we’re here to educate, too. We’re not just here to make a dollar off of you. We want our communities to thrive.”
The National Association of Realtors is promoting strategies for building credit, saving for a down payment and mortgage shopping. Buyers can assess their financing options with lenders offering pre-qualification assessments.
Around 120 realtors and community members attended the event focused on the history of Black home ownership in Grand Rapids and how it can shape the industry’s future.
Johnson hopes public forums help residents recognize inequity in the housing market and work with realtors to bridge that gap.
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