In its first year, the San Diego Black Homebuyers Program helped 30 families buy a home. 10NewsAarons shows how the program makes homeownership a reality even in a tough market.
SAN DIEGO — In just its first year, the San Diego Black Homebuyers Program helped 30 families achieve the dream of home-ownership, even as home prices skyrocketed and interest rates climbed.
The program focused on Black families because of the disparity between home ownership between white and black people in San Diego. According to the Foundation, 61% of white families in San Diego owns their home. That number is only 30% among Black families. "Black families for generations have been locked out of home ownership, by the system. And we hope that this gives people a window of hope," says Gray Payton."We know that home ownership is an important tool in helping people really create wealth opportunities to pass on to future generations."
"That's really what kind of jump started everything for us and changed the game from a year or two down the road to where we can start looking for a home next week," says Liz Riley.
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