California Realists Seek Solutions to Low African American Homeownership Rates
Los Angeles, CA –October 14, 2014 – Sounding the alarm about stagnant homeownership rates among African Americans, the California Association of Real Estate Brokers (CAREB) is calling California-based real estate industry professionals, government policy experts, housing advocates and others for a two-day conference, October 16 and 17, 2014, in Los Angeles. The conference, The State of Housing in Black California, is expected to attract 300 attendees to the Consolidated Board of Realtist headquarters, 3725 Don Filipe Drive, Los Angeles.
“Homeownership for African Americans is in serious jeopardy. In 2013, more than 6.1 million mortgage loans were made in the United States and of those, African American borrowers received fewer than 386,000 of those loans,” said Mark Alston, First Vice President of the California Association of Real Estate Brokers (CAREB) and Broker/Owner of Los Angeles-based, Alston & Associates Mortgage Co.
The conference will feature expert speakers and attendees discussing the root causes of the slow economic rebound among African Americans, and share viable strategies to reverse what CAREB is calling the “Stolen American Dream.” Scheduled speakers include: Paul A. Leonard, Director, CA Office, Center for Responsible Lending; Chancela Al-Mansour, Executive Director of the Housing Rights Center;
Stephen T. Webb, President, Sacramento NAACP; Alex Creel, Sr. Vice President, Chief Lobbyist, California Association of Realtors, and Anita Estell, Shareholder, Polsinelli Shughart PC, Washington, DC, and Donnell Spivey, President, National Association of Real Estate Brokers (NAREB).
“The glaring fact is that nationwide, Black Americans comprise over 12 percent (12%) of the population, but we accounted for only .06 percent (.06%) of all mortgage loans in 2013,” Alston added.
CAREB is convening the statewide conference to heighten awareness and engage thought leaders and the public in setting an action agenda to re-shape public policy affecting homeownership in California, and nationwide. “It’s time we take a hard look at how we provide a better future for our children. It’s our obligation and our mandate,” Alston stated on behalf of CAREB’s leadership group.
For more information about CAREB and to register for The State of Housing in Black California conference, visit: www.careb.org, or call 310-995-2153.
