On June 16, the Black Homeownership Collaborative (BHC), a coalition of more than 100 organizations and individuals, marked its fourth anniversary of its 3by30 initiative at the Second Ebenezer Church in Detroit, Mich. Housing leaders, government officials, advocates, and community members gathered to discuss strategies to confront the ongoing challenges in expanding Black homeownership in America.
The Collaborative, led by a steering committee of executives from Hope Enterprise Corporation, the Mortgage Bankers Association, NAACP, National Association of REALTORS®, National Association of Real Estate Brokers, National Fair Housing Alliance, National Housing Conference, and the National Urban League, with research by the Urban Institute, is committed to creating three million net new Black homeowners by the end of 2030.
Bishop Edgar Vann of Second Ebenezer Church, set an inspiring tone for the day with his decades of leadership and commitment to Detroit’s communities, leaving a lasting impact on all who attended. Vann’s dedication remained evident throughout the event, reminding everyone that lasting change begins with strong leadership and a long-term vision for a better future.
Members of Congress shared personal reflections and commitments to addressing the racial homeownership gap, making clear that while local impact is essential and transformative, it must be matched by bold national action to truly achieve lasting change.
Congressman Shri Thanedar (D-MI-13) spoke candidly about the impact of discriminatory lending practices he faced while pursuing homeownership, underscoring the urgency for systemic reform: “There is no doubt inequities exist. There is no doubt we have systemic issues that need to be addressed. Through Congress, I am sponsoring bills to create opportunities for homeownership and access to down payment assistance across the country.”
Congresswoman Debbie Dingell (D-MI-6) called for unity and resilience, reminding everyone, “This problem requires a comprehensive approach, including education for first-time homebuyers, expanding access to credit, enforcement of fair housing laws, and sustaining efforts to prevent foreclosures.” Congresswoman Rashida Tlaib (D-MI-12) expanded on these points and challenged attendees to recognize their power, declaring, “Please continue to advocate. You will leave Detroit much stronger, with much more spirit to make sure you fight for what is right.”
Jung Choi, Urban Institute’s Principal Research Associate, provided key insights into the current state of Black homeownership. Choi’s presentation revealed that the median wealth gap between homeowners and renters reached a historic high, increasing by 70% between 1989 and 2022. Despite market constraints, Detroit’s city and metro area stands out with Black homeownership rates exceeding 50%, compared to the national average of 45%. Since 2019, Black homeownership has increased by 675,000, totaling seven million Black homeowners. However, at the current pace, the 3by30 initiative’s goal of adding three million net new Black homeowners by 2030, is projected to fall short by approximately 1.25 million. While meaningful progress has been made, a significant acceleration is needed to reach this goal.
Throughout the day, thought leaders and advocates took to the stage to discuss some of today’s most pressing issues affecting Black homeownership. Their personal stories and expert insights brought both the challenges and solutions into sharp focus. NHC’s President and CEO David Dworkin, a Detroit native whose housing career began in the city, moderated the panel, “The Road Home: Local Action to Empower Black Detroiters.” Panelists included Amy Hovey of the Michigan Shate Housing Development Authority, Shari Williams of Detroit Future City, and Dr. E’toile O’Rear-Libbett, REALTOR®, Realtist, and Broker/Owner of Starlite Properties. The discussion focused on key topics such as the importance of post-purchase counseling and homeownership preservation, estate planning and heirs’ property issues, and down payment assistance programs.
Ashley Thomas III of the National Association of Real Estate Brokers moderated the panel, “Federal Housing Policy: What’s Happening in DC,” which explored the intersection of national policy efforts and their local impact. Panelists included Cy Richardson of the National Urban League, Lisa Rice of the National Fair Housing Alliance, and Bryan Greene of the National Association of REALTORS®.
The day’s discussions offered clear and practical insights, highlighting a shared dedication to breaking down systemic barriers—like appraisal bias and limited access to credit—that have historically hindered Black homeownership. Speakers emphasized that the need to confront these challenges is more pressing than ever.
At the event, the Black Homeownership Collaborative released its 2024-2025 annual report, highlighting significant efforts, initiatives, and progress made in the ongoing journey towards closing the racial homeownership gap. The work to create three million net new Black homeowners by 2030 remains strong, and with it, the hope that every family will have the opportunity to build a secure and prosperous future through homeownership.
To watch a recording of the event, please click here. To learn more about the Black Homeownership Collaborative’s 3by30 initiative, visit www.3by30.org. For additional information, please contact Erika Ramirez, Senior Policy and Research Associate at NHC at erika.ramirez@nhc.org.