St. Louis is among the cities that will celebrate the National Association of Real Estate Brokers 2nd Annual Building Wealth Day with an event featuring Mayor Tishaura Jones and NAREB President Courtney Johnson Rose.
Free services and classes will be offered from 10 a.m. to 3 p.m. Saturday April 12, 2025, at Harris-Stowe State University in the Dr. Henry Givens Jr. Administration Building, 3026 Laclede Ave.
During the Mayor’s Celebration of Businesses Luncheon in October, Jones announced a goal to develop 5,000 affordable housing units and support the development of 5,000 market-rate housing units in the city over the next five years.
“Home is where you raise your family, create memories, and build wealth,” said Jones.
“The ability to acquire and hold affordable housing is crucial to economic justice, and the lack of affordable housing in our city is the root of so many of our problems. If we want St. Louis to prosper and grow, we must create a thriving community where every resident has access to the opportunities they deserve.”
Seminars, workshops, and one-on-one sessions during Wealth Day will offer steps towards homeownership, property investment, starting a business, and other wealth-building opportunities.
Included in the workshop schedule, with some sessions online, are:
What to do with Big Momma’s House? ABCs of Homebuying; Real Estate Investing; Down Payment Assistance; and Careers in Real Estate.
Personal sessions with real estate attorneys and housing counselors, and the day will also include a career fair and free health screenings.
Rose said her grandparents overcame many obstacles to own their first home “but their determination to own a home was unwavering.”
“It was a dream shared by many in their generation. Families worked, prayed, and many managed to turn their dreams into reality and own a home.
“Today, too many Black families and individuals have the means to purchase homes but are discouraged by the limited inventory and high interest rates. I understand their frustration. For too many Black consumers, which has been a signal to back off, and they get stuck at that point.”
Rose acknowledges that buying a home is more complicated than it was just four years ago. However, it remains just as vital as it was 60 years ago.
“NAREB isn’t a passive observer. We are on an active mission to increase homeownership in Black communities. We are here to support the Black community, and we believe that with the right resources and knowledge, homeownership is within reach for families and individuals in our community,” said Rose.
She added that “convincing them of the importance of homeownership is the real challenge.”
“Our community must understand the significance of homeownership in wealth building. It’s the best way to save for retirement, the most effective savings plan you can set up, and the most efficient way to pay for your children’s college education,” Rose explained.
“If you want to start a business, the equity in your home is a quick way to become an entrepreneur. These are the many financial benefits that homeownership can bring, and it’s crucial for our community to be aware.”
The Wealth Tour provides guidance on the journey towards homeownership for those who need assistance. Partnering with NAREB are organizations like the Divine Nine sororities and fraternities and National Baptist Convention.
We teach people how to improve their credit scores, explain how to obtain renovation loans, and help them assess their housing needs. But changing the mindset? Convincing them of the importance of homeownership is the real challenge.
“Many of their members are millennials, the target audience we aim to reach,” said Rose.
“We want them to understand the past and open their eyes to the future. High-homeownership communities are locations where they and their families can thrive.”
Rose offers a history lesson in reminding Black millennials, and others in the African American community of “the pain and struggle that their parents or grandparents endured in their quest for homeownership.”
They faced redlining, which was rampant in St. Louis and created the racial segregation in housing that still exists in many parts of the city.
Also, government programs discriminated against Black consumers, including the GI Bill and the Federal Housing Administration.
When white homeowners sold a house and financed the notes, there was the pressure that a missing or late payment could jeopardize the sale, risk your investment, or lead to eviction.
“These struggles are often overlooked by younger generations. We want them to understand the past and open their eyes to the future,” said Rose.
To register for the local events around the country, visit www.narebblackwealthtour.com. There will also be virtual sessions. To participate via Zoon, please visit https://nareb.zoom.us/meeting/register/BP0IXYB0S4qHhne4G7uJLQ#/registration