PRESIDENT’S MESSAGE The National Association of Real Estate Brokers, Inc. (NAREB) and its members are referred to as REALTIST® and have taken a huge step toward researching data for the State of Housing in Black America (SHIBA). As a minority trade association in its 65th year founded in 1947, we have always fought the battles of “Democracy in Housing.” Today, some of the very same issues exist, but rather discretely and anonymously. We are a real estate association comprised of all races but primarily African Americans. Today in America, we see that there are housing issues that impact all people of color, specifically Blacks. As this report demonstrates, the collapse of the housing market and subsequent recession has been particularly devastating to the Black community. Not only has our homeownership rate plummeted, but also accessing mortgage credit has become nearly impossible outside of government insured programs such as the FHA and VA. Unemployment also remains high, in the double digits for Blacks, and vacant and abandoned properties clutter our communities. This report is designed to shed light on many of the issues centered around foreclosure mitigation, neighborhood blight, and disaster recovery for Blacks. More importantly, NAREB has endorsed several policy initiatives in this report. They address rebuilding the mortgage finance system to make loans more available for Black families, ensuring an adequate supply of credit to finance affordable rental housing, and creating a funding vehicle—specifically a community infrastructure bank—to provide the financing to enable broad-based community revitalization and jobs for unemployed workers. One of the most intriguing community redevelopment initiatives I have seen to date is the African American Empower Network in Omaha, Nebraska. Launched in April of 2007, this initiative examines ways to transform communities through a comprehensive policy framework and provides recommendations about housing, transportation, employment, education, youth development, health, culture and the arts, faith, and other critical aspects of daily life. This program is so innovative that I have included a more detailed description in the Appendix of this report. As the 27th President of this real estate trade association, I am extremely proud to present this report that will help shape, revitalize, cultivate, and restore Black communities. As we begin to engage in more community-focused activities, our long-standing, time-tested reputation as the oldest fair housing organization in America leads us into improving the State of Housing in Black America. NAREB will produce the first of many annual reports over the next decade and beyond along with measurable solutions that will improve and empower the Black community. NAREB once again will work to restore and even collaborate with various entities in certain cases to fulfill the plight of Blacks who have been disproportionately marginalized and stripped of wealth for many years to come. We ask that after you have read this report that you join the SHIBA solutions movement. There is a place as well a role for your business, trade group, nonprofit, or fraternity in this extremely important mission.
Julius L. Cartwright 27th President of NAREB
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