New partnership aims to boost homeownership, wealth through churches

As housing experts warn, tariffs could raise the cost of building a home by more than $9,000, leading to higher costs that could create even more challenges for buyers and sellers. A new partnership is aiming to get more families into homes by connecting with them through churches.

The National Association of Real Estate Brokers is trying to help the community navigate the market.

Through a new partnership, you could soon hear a lot more about housing in houses of worship.

"Reclaim, restore, and rebuild. That is exactly what we're doing," said Rosalind Booker, Faith-Base and Community Engagement Chair for NAREB North Texas.

At McKinney First Baptist Church, the congregation recently received a message of both faith and financial empowerment to ensure they can grow along with their community.

McKinney is a fast-growing city in one of the fastest-growing counties in Texas, which is among the fastest-growing states in the nation.

From the pews to the podium, members of NAREB's North Texas chapter spoke about the power of homeownership and their mission to close the ownership gap for minorities.

"The main thing is building wealth within the community, because 52% of our wealth comes from homeownership," said Lora Washington, Texas president of NAREB.

"But only 44% of us are homeowners. Meanwhile, homeownership for others is at 72% or higher."

To bridge that gap, NAREB signed a historic memorandum of understanding this year with the National Baptist Convention, which has 7 million members nationwide.

"The church is so central to the African-American culture," Booker said.

"We realize this is a place where we can reach them. And if we can reach them, we can teach them about homeownership."

The partnership offers educational opportunities and access to industry experts to help families navigate complex issues, including heirs' property, credit repair, foreclosure prevention, and how to qualify for down payment assistance programs.

"Even if we just get one, change them from a renter to a homeowner, and educate them, we've accomplished our goal," said Madge Day, president of NAREB North Texas. In the church and beyond, they’re praying and preparing families to build wealth for the next generation.

"Wealth is contagious," said Harold Carter, past chairman of the board for North Texas NAREB.

"When one member of the family sees the progress and the value of homeownership, the next generation adopts those values and that lifestyle."

Saturday, April 12, NAREB is aiming to reach 100,000 people nationwide through Building Black Wealth Workshops in 100 cities, including McKinney.

The events are open to the public and everyone is welcome. Organizers say there will be attorneys, lenders, city leaders, and other industry experts available to answer questions, along with financial literacy programs for young people.