CLEVELAND – Starting this weekend, Cleveland will be hosting hundreds of real estate agents at the National Association of Real Estate Brokers convention.
The trade organization represents minorities in the real estate industry in an effort to level the playing field for home buyers.
We’ve taken the reins of this national organization as brothers: Lydia Pope of Cleveland E&D Realty & Investment Co, Inc.
Pope’s biggest challenge will be tackling the nationwide share of black homeowners and the wealth gap they create.
U.S. Census data the share of home ownership among blacks has remained unchanged over the years, currently at 45.1%, compared with 73.8% among Caucasians.
“That’s 45.1, about the same as it was in 1969 when the Fair Housing Act was first passed,” Pope explained. “In the 23 years that I have been in real estate, nothing has changed. I still see problems with paying the down payment. I still see the same problems as 23 years ago. “
Looking ahead, Pope sees what is happening in the northeastern Ohio real estate market, mirrored by the rest of the country, and plans to advocate for more affordable down payment programs, addressing valuation issues and other obstacles such as student loan arrears to the African American community.
“Home ownership matters,” she said. “Buying land is the biggest asset that can ever be.”
Literally last month Former Congresswoman Marcia Fudge has returned to her old neighborhood to appeal to black homeowners, now in her role as Secretary of Housing and Urban Development, with the goal of increasing the number of black homeowners by 3 million by 2030.
The convention will take place at the Cleveland Hilton Downtown, 100 Lakeside Ave. East from 24 to 28 July 2021.