NAREB-Memphis Celebrates Realtist Week by Building Black Wealth Through Real Estate
Daryl Lewis is the President of NAREB-Memphis
The NAREB Building Black Wealth 100 City Tour is Saturday, April 13th
Several events such as Political Advocacy Day are being held throughout the week.
NAREB-Memphis has a week full of events that are designed to increase knowledge of the home buying process and how home ownership can help increase wealth.
MEMPHIS, TN, UNITED STATES, April 4, 2024 /EINPresswire.com/ -- NAREB-Memphis is hosting the 2024 Realtist Week & Building Black Wealth 100 City Tour April 7-13 2024. Real estate professionals and potential homebuyers are invited to attend and learn how homeownership is the key to closing the wealth gap among Black Americans. The theme for the week is “Leveraging Community Partnerships.” Several FREE events are being held throughout the Memphis area to promote the financial benefits of homeownership, and to bolster confidence among Black American residents to let them know that homeownership is possible, desirable, and the best way to begin building wealth. Those interested in attending can learn more at nareb-memphis.com.
According to NAREB, homeownership among Black Americans dwindled nationally from a high of 49.1% in 2004 to 40.6% today compared to the current non-Hispanic and White homeownership rate of 73.8%. In Memphis, the homeownership rate is approximately 34%.
Daryl Lewis, President of NAREB-Memphis, says several factors have contributed to this decline. "The low home buying rates among Black Americans are often the result of misinformation or misunderstanding of the mortgage process, a lack of affordable inventory in some markets, along with disparate, institutionalized credit scoring models that reward consumer credit borrowers and penalize borrowers with optimum alternate credit history that should be considered for a mortgage loan such as cell phones, utility bills and insurance payments." NAREB Realtists believe that education helps. "Members of NAREB work with potential home buyers to make sure they have a clear understanding of the process and connects them with other licensed professionals to help eliminate any challenges or hurdles they may have such as credit, lending, home inspections, etc.," added Lewis.
NAREB has also found that young would-be homeowners are experiencing their own set of challenges. The weight of school loans carried by recent graduates, GenX-ers, and Millennials appears to be dampening interest in pursuing homeownership among younger prospective buyers which shortens the time wealth-building equity can be accumulated when a home is finally purchased. These topics and more will be addressed during the NAREB-Memphis 2024 Realtist Week and the Building Black Wealth 100 City Tour which occurs on the last day. The Building Black Wealth 100 City Tour is a national initiative of NAREB and will feature classes such as The ABC's of Homebuying, What to Do with Big Mamma's House, Investing in Real Estate: Buying Back the Block and more. NAREB National President Dr. Courtney Johnson-Rose will be in attendance as well. The events for the week are as follows:
Sunday, April 7, 2024
Day of Worship and Prayer
Greater Community Temple C.O.G.I.C.
5151 Winchester Rd., Memphis, TN 38118
9:30 a.m.
FREE
Monday, April 8, 2024
NAREB-Memphis Membership Onboarding & Mixer
Raleigh Library
3452 Austin Peay Highway, Memphis, TN 38128
12 Noon – 1:00 p.m.
FREE
Tuesday, April 9, 2024
Women’s Council of NAREB (WCN): Creating Multiple Streams of Income In Real Estate
Universal Life Building
480 MLK Blvd., Memphis, TN 38103
11:00 a.m. – 1:00 p.m,
FREE
Wednesday, April 10, 2024
Political Advocacy Day
Alpha Memphis Education Foundation, Inc.
4122 Barton Drive, Memphis, TN 38116
6:00 p.m. – 8:00 p.m.
FREE
Thursday, April 11, 2024
Young Realtist Division: Multiple Ways To Secure The Bag In Real Estate
Inkwell
631 Madison Avenue, Memphis, TN 38103
6:00 p.m. – 8:00 p.m.
FREE
Friday, April 12, 2024
NAREB Memphis Inaugural Golf & Spades Tournament
Historic Pine Hill Golf Course
930 Mallory Avenue, Memphis, TN 38106
8:00 a.m.
Saturday, April 13, 2024
Building Black Wealth 100 City Tour
Greater Community Temple C.O.G.I.C.
5151 Winchester Rd., Memphis, TN 38118
10:00 a.m. – 3:00 p.m.
FREE
For more information and to register for the various events during the 2024 Realtist Week & Building Black Wealth 100 City Tour, visit nareb-memphis.com.
About NAREB:
The National Association of Real Estate Brokers (NAREB) was formed in 1947 out of a need to secure the right to equal housing opportunities regardless of race, creed, or color. NAREB has 90 chapters located nationwide and publishes annually The State of Housing in Black America (SHIBA) Report. Visit www.nareb.com for more information.
The National Association of Real Estate Brokers (NAREB) Memphis Board was formed in 1969 to perpetuate the mission of the national body and affect change in the Memphis – Tristate Area. NAREB has grown to approximately 238 members, affiliated, and allied partners seeking to restore, rebuild, and renew the community with an influx of new homebuyers and housing stock; making Memphis a city of choice for all. Visit www.nareb-memphis.com for more information.
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