Increasing Black Homeownership in the Puget Sound Region

A recent report from the Federal Reserve Bank of San Francisco indicates that various forms of institutional and interpersonal discrimination—for example, in homeownership and employment—have led to disproportionately fewer wealth-building opportunities for people of color. These disparities compound over time and are consequential, as wealth is an essential buffer against economic shocks, and enables individuals and families to plan for the future and invest in the next generation.  

Aligning interests and resources that focus on equity, infrastructure development, housing production and preservation, and underwriting and lending, could lead to increasing the Black homeownership rate. This is what compelled all the organizations involved in this initiative to build an impact network, develop a draft 7-point plan, and now engage CRA officers to help refine and implement the plan. Join us on November 17th for a conversation about how your institution can support this work.

The Coalition for More Housing Choices is supporting this work in partnership with Algonquin Group, Housing Development Consortium, Master Builders Association of King and Snohomish Counties, National Association of Real Estate Brokers (NAREB) – Western Washington Realtist/Seattle Chapter, Nehemiah Initiative Seattle, Northwest Credit Union Association, Washington Bankers Association, Washington Employers for Racial Equity, Washington Homeownership Resource Center, Washington Mortgage Bankers Association, Washington Roundtable, Washington State Department of Commerce, and Washington State Housing Finance Commission.

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