Atlanta leaders celebrate Juneteenth with effort to improve Black homeownership

City leaders encouraging Black home ownership
Published: Jun. 20, 2022 at 5:48 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

ATLANTA, Ga. (CBS46) - On the campus of Atlanta Metropolitan State College, community leaders celebrated the Juneteenth holiday in unique fashion.

“We want to see families increase their income so they can have more homeownership and we also want to see banks lean into this opportunity,” Atlanta Mayor Andre Dickens.

The Black homeownership collaborative hosted their one-year anniversary by discussing ways to generate $3 million new Black homeowners by the year 2030.

“So, the black homeownership rate today is about 42%, which is the same rate it was in roughly 1968. So, it gives you a sense of how we’ve gone two steps forward and one step back,” Cy Richardson with the National Urban League said.

There are currently about 200,000 Black potential homebuyers’ mortgage ready, but a lack of affordable inventory is a problem.

“We have not invested well in our state, in our people so that they have the right skills so they can tap into those livable wage opportunities and become business owners and build that wealth,” Nancy Flake Johnson with the Urban League of Greater Atlanta said.

Jessica smith credits the Urban League of Greater Atlanta and other community leaders for helping her become a new homeowner with financial counseling that ultimately saved her money.

“Our rent went from being $1,450 to now we’re paying a mortgage that’s a little under $1,300 and so we truly see the benefit of purchasing over renting now. We have something we can call our own and something that we can leave for our children, so it has been a really great experience,” New homeowner Jessica Smith said.