NAR Newsletter
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April 2007 |
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Realities is a monthly E-newsletter created especially for industry thought leaders and specialists by the National Association of REALTORS®. Write to us with your feedback and suggestions for future stories. To unsubscribe, click here. |
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Minority Homeownership
The National Association of REALTORS® is dedicated to increasing minority homeownership nationwide. Despite the slowing housing market, data released from the U.S. Census Bureau in January 2007 shows minority homeownership has been on the rise over the past 12 years. The stories below highlight several NAR programs to help ease the affordable housing burden, particularly for underserved segments of the population. |
NAR Reaffirms Pledge to Support Fair Housing
As the nation celebrates April as Fair Housing Month, the National Association of REALTORS® and its 1.3 million members reaffirm their commitment to America's policy of fair housing and pledge to continue their work toward eliminating housing discrimination.
read more>>.
HOPE Awards Encourage Minority Homeownership
A New Orleans' parish church that convinced utilities to restore power to a Vietnamese neighborhood in the wake of Hurricane Katrina, a Native American housing authority that teaches tribal members about credit and a builder that has built housing for minority foster parents are three of the six outstanding programs and individuals who have won the fourth HOPE (Home Ownership Participation for Everyone) Awards.
read more>>.
"Ambassador Cities" Expand Affordable Housing Opportunities
The National Association of REALTORS® and the United States Conference of Mayors designated six cities as 2007 Ambassador Cities for their efforts to promote homeownership, increase affordable housing and make their communities more livable.
read more>>.
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 The 2006 homeownership rate for the nation was the third highest annual rate ever at 68.8 percent.
The current percentage of minorities who own their own homes is 51.3 percent.
Since 1994 minority homeownership has steadily increased from 43.2 percent to 51.3 percent.
Hispanics set a new annual record with an annual homeownership rate of 49.7 percent.
Source: U.S. Census Bureau, January 2007
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Mortgage Crisis Calls American Dream into Question
Reuters, April 3, 2007
For years, political leaders touted rising homeownership rates as a sign the "American Dream" was being fulfilled but more than a million looming foreclosures have called the dream into question.
read more>>.
The Science Behind the Sale
Washington Post, March 31, 2007
Even in a buyer's market, some sellers can still seal the deal.
read more>>.
Buying Homes in Foreclosure Can Be Risky
USA Today, March 30, 3007
There will be more than 1 million foreclosures over the next two years. Despite the savings, buying these homes come at a price.
read more>>.
Behind Foreclosures, Ruined Credit and Hopes
New York Times, March 28, 2007
Heavy mortgage debt has led many first-time homebuyers to the edge of financial ruin.
read more>>.
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© Copyright NATIONAL ASSOCIATION of REALTORS®
Headquarters: 430 North Michigan Avenue, Chicago, IL 60611
DC Office: 500 New Jersey Avenue, NW, Washington, DC 20001-2020
1-800-874-6500
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