Renters of color pay higher security deposits, more application fees
Results from Zillow's Consumer Housing Trends Report show renters of color typically submit more applications — and pay more in application fees — before they secure a place to live than white renters do. Renters of color also typically pay a higher security deposit when they move in.i The U.S. rental market is as competitive as it's been in decades, with the national vacancy rate lower than at any time since 1984.ii Rent prices have skyrocketed, up a record 17% in just the past year, prompting some priced-out renters to look for a more
Amazon Launches Accelerator Program to Grow Opportunities for Real Estate Developers of Color and Increase Affordable Housing
Today, Amazon announced it is committing more than $21 million to pilot a professional training, mentorship, and capital funding program to help promote real estate developers of color. This two-year, part-time professional development program, which is free for participants, aims to teach real estate developers of color how to advance their careers. It also aims to lower the barriers these developers can face when bidding for affordable housing developments. The goal of the program is to increase the number of professional real estate developers of color who are focused
Black Real Estate Agent Program Launches to Support Aspiring Black Agents
By Danielle Sanders HomeLight and the National Association of Real Estate Brokers (NAREB) announced a partnership and the launch of the joint Black Real Estate Program. The HomeLight-NAREB Black Real Estate Agent Program will provide financial, educational, and career support for aspiring Black real estate agents across the country. The goal is to help agents achieve high-production success. The goal of the program is to improve the rate of homeownership for Black Americans. BLACK REAL ESTATE AGENT PROGRAM IS CRUCIAL TO IMPACTING CHANGE According to the latest U.S. Census Bureau data, Black
Netflix commits $25 Million to the “Equitable Path Forward” Initiative to Counter Racial Inequities Rooted in Housing
by Kelly Washington Netflix Incorporated and Enterprise Community Partners (“Enterprise”) announced Netflix’s $25 million commitment in Equitable Path Forward. Enterprise’s new five-year, $3.5 billion nationwide initiative will help dismantle the deeply-rooted legacy of racism in housing – from the types of homes built, where they are made, who builds them, and the wealth that the homes generate. After decades of systemic racism in housing, from government-sanctioned discrimination like redlining and race-based federal mortgage programs to restrictive deed covenants based on one’s skin color, to predatory lending and discriminatory property