FOREWORD: MESSAGE FROM THE PRESIDENT

Forward: Message from the President

Since 1947, NAREB has steadfastly advocated for ‘Democracy in Housing.’ It’s been a journey marked by legislative advancements and critical partnerships involving leaders from the real estate and lending industries. But the journey hasn’t been easy. With every step forward, there were times when we lost significant ground despite our impressive local and national momentum.

As President of NAREB, I am awed by the tenacity of our REALTIST constituency. Our members have never wavered from their effort to achieve housing equity, especially for the Black community. I am also proud of our annual ‘State of Housing in Black America (SHIBA)’ report, which has evolved into a highly respected and comprehensive assessment of Black homeownership.

The year 2004 marked the highest rate of homeownership for Blacks (at just under 50 percent), and SHIBA has been using that year as a benchmark against which to measure progress toward a nation of sustained housing equity. SHIBA provides a detailed view into the real numbers and facts that affect the ability of American Black families to purchase a home.

In 2008, the housing market collapsed. People of color were the disproportionate victims of the resulting foreclosure crisis, due in part to predatory lending. The damage to Black homeownership was so substantial that Black households have still not recovered from the losses they experienced since 2004.

In fact, the Black homeownership rate continued to fall for a decade after 2008, even though between 2009 and 2020, the United States experienced the longest jobs recovery in history. Blacks were among those who benefitted from job growth during this period, but by the second quarter of 2019, the Black homeownership rate had fallen to 40.6 percent – a rate lower than the Black homeownership rate in 1968, the year the Fair Housing Act was established in law.

As a result of that decade of loss, this year’s report has moved its base year from 2004 to 2008, so we can better understand Black homeownership progress since the height of the foreclosure crisis and the damage of predatory lending.

Our 2022 SHIBA report is designed to shed light on many of the issues centered on neighborhood blight, environmental discrimination, and disaster recovery for Blacks. Just as importantly, NAREB has moved beyond data to propose solutions by endorsing several policy initiatives and providing comprehensive recommendations.

I hope that you will study the report carefully. Its insights, perspectives, data points, and recommended solutions are key to our ability to learn from the past, observe the present and prepare for the future.

In The Realtist Spirit,

Lydia Pope

Lydia Pope President National Association of Real Estate Brokers