The National Black Empowerment Council, alongside the Rocket Community Fund and Goodwill of North Georgia, unveiled their groundbreaking program: The Homeownership Wealth Initiative. The lineup of speakers included Atlanta Mayor Andre Dickens and esteemed leaders from each organization.
The press conference, held at Atlanta City Hall, shed light on a pivotal initiative aimed at addressing the racial homeownership gap and empowering individuals to achieve their dreams of homeownership.
The program will offer a host of benefits for the participants. From financial education and guidance developed by Rocket Mortgage to personalized financial coaching from Goodwill of North Georgia and support from the National Black Empowerment Council.
Mayor Andre Dickens emphasized the importance of homeownership, stating, “Owning a home has long been a part of the American Dream. It is still one of the most common ways to build wealth, especially for African Americans.”
Mayor Dickens also recognized the stark disparities in homeownership rates. “The National Conference of State Legislatures here in Atlanta says homeownership rates have been falling in most states for years now,” Dickens continued, “and there’s a 30% gap in the homeownership rate between Blacks and whites. In fact, Black homeownership lags behind nearly every other group in the country.”
Furthermore, Darius Jones, President and CEO of the National Black Empowerment Council, expressed pride in the collaboration, stating, “The National Black Empowerment Council holds the economic empowerment of individuals, families and communities to be a high priority. And we recognize that the road to that result has been somewhat challenging for African Americans because of the tremendous racial disparities in homeownership that exist in our country. So as an organization, we are incredibly proud to be a part of this amazing initiative, one which is going to provide valuable education tools and technical assistance to over 600 individuals this year alone, putting them on the path to home ownership.”
Rob Lockett, Team Leader of National Housing Stability for the Rocket Community Fund, highlighted the organization’s dedication to closing the racial wealth gap.
“We are investing our time and resources to ensure that every American has access to safe and healthy housing. We understand the depth of the breadth of the issue, which leads with a legacy of legislative policy that has kept homeownership far out of reach or in some cases, illegal for Black people in the most extreme cases,” Lockett said. “We must in our role as one of the nation’s largest mortgage lenders, not only to be good corporate citizens, but to do our part to correct the injustices that exist within the industry as a result of this.”
Through partnerships and investments, the Rocket Community Fund aims to make homeownership more accessible for all. Investing $370,000 into the initiative, building on its commitment of $2.5 million in philanthropic efforts to Atlanta over the last fifteen months.
Moreover, Keith Parker, President and CEO of Goodwill of North Georgia, underscored the importance of financial education in achieving sustainable homeownership. “Even if you’re making more money, if you don’t know how to spend that money wisely, what we find is a lot of folks find themselves in more debt,” he explained. Through programs like the Homeownership Wealth Initiative, Goodwill aims to equip individuals with the knowledge and skills needed to navigate the complexities of homeownership successfully.
The press conference also included a touching testimony from Wesley Chenoweth, a participant in Goodwill’s entrepreneurial program. Sharing his journey from Liberia to becoming a successful business owner in Georgia. “I stand before you today, deeply grateful and honored to share my journey with you as a proud participant in the GoodBiz program back in 2016. I learned invaluable lessons on entrepreneurship and business management,” Chenoweth said. “Little did I know then that those teachings would lay the foundation for the success of my business. Grizzly Rides Limousine and Transportation, LLC.”
Chenoweth added: “Owning a home in Georgia has been a lifelong aspiration,”
As the Homeownership Wealth Initiative takes flight, it stands as a light of hope for individuals and families seeking to achieve the dream of homeownership, especially when it seems so far out of reach.
With the collective efforts of the National Black Empowerment Council, the Rocket Community Fund, and Goodwill of North Georgia, the initiative promises to empower Black Americans to attain homeownership and establish generational wealth for their families for generations to come.
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