On September 17, The Alliance hosted an event in Cleveland, OH, where prospective buyers were able to discuss building wealth through homeownership with housing and finance industry experts.
LaRese Purnell, Author of “Financial Foundations,” U.S. Department of Housing and Urban Development Chief of Staff, Julienne Joseph, and local leaders spoke to more than one hundred Cleveland residents about solutions to the housing affordability crisis and tools for first-time buyers to navigate the financial journey of homeownership.
“Homeownership education and counseling is key…and the reason why I say that is that it empowers you. It allows you to take ownership of the process,” said Joseph.
Today, first-time home buyers make up just 26% of buyers in the market, compared to 34% just last year. Homeownership is the number one driver of wealth in the U.S., but rising mortgage rates, affordability challenges and low inventory are making it more difficult for first-time home buyers to enter the market. It’s clear more support is needed to help Americans achieve the dream of homeownership.
“We’re trying to help folks accumulate wealth so they can use it for their own well-being, and so you can pass it down to your kids and your families through sustainable homeownership,” said Colin Allen, executive director of the American Property Owners Alliance.
In addition to The Alliance’s work to expand first-time home buyer support nationally, events like this are critical to directly engaging with prospective homeowners, allowing them to interface with experts who understand their unique market challenges and connecting them with resources in their community.
“We have to do so much more to connect our community with the resources and programs that are available. Buying a home is complicated, it’s confusing and it’s consequential…it can be intimidating. But a lot of those barriers can come down if we meet people where they are,” said Congresswoman Shontel Brown, who spoke at the event.
The conversation in Cleveland is the third event of its kind this year, following conversations in Dallas and Charlotte. Next month, The Alliance is hosting an event in Montgomery, AL, to help provide local homeowners with helpful resources on their ownership journey and to use their home to build generational wealth and also to help prospective homeowners as they embark on the path to homeownership. Event information can be found here.
“This isn’t just important in Cleveland,” said Purnell, “but this information is necessary around our nation.”
Visit our website to see how you can get involved as we make the dream of homeownership accessible for everyone. Follow us on X, LinkedIn and Facebook to stay up to date on our efforts and be the first to know about future events near you.
About the American Property Owners Alliance
The American Property Owners Alliance is a nonprofit, nonpartisan organization created to protect and support property owners. The Alliance educates property owners on federal issues, laws and policies; to advocate for owners’ rights and interests; and to mobilize when necessary to secure those rights and interests. The Alliance is primarily funded by NAR but operates independently from the association with its own board of directors and separate bylaws.
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