NORWOOD, Ohio — Niah Fowler and Myron Mason graduated from the University of Cincinnati in April. Already, they’re looking to tackle another life milestone.
“We’re trying to get into learning how to be homeowners,” Fowler said. “The expenses, knowing what you gotta do, it’s a lot.”
The pair were among 750 people who attended the ‘OWN BLK CINCY’ symposium to educate and empower black prospective homebuyers over the weekend.
Comedian Mike Epps shared the keynote Saturday at the Cintas Center, discussing how he bought and renovated the block where he grew up.
The story had an impact and a clear message, said Cincinnati Vice Mayor Jan-Michele Lemon Kearney, whose office hosted the event.
“We're from the hood, we're from the city, we're from that neighborhood, [Epps] said. We don't own any of that. We need to own it.”
The gap between white and Black homeownership rates in the Cincinnati Metro is one of the largest in the country, according to a report from Housing Opportunities Made Equal.
In the Cincinnati metro, the Black homeownership rate is 34%, compared to 74% white homeownership rate.
Within the city’s limits, homeownership rates are far below the national numbers.
Kearney said resources to help close that gap exist, but many don’t realize it.
“It doesn’t help to have resources if no one knows they’re there,” she said.
The weekend symposium put those resources in one place. Breakout sessions focused on shopping, maintaining and investing.
The big range of topics was important for Coldwell Banker Realtor Barry Bates, who hosted a session on how to select a realtor and loan officer.
“We talked about everything from the beginning all the way through to the next generation, so that there's no real end to real estate, it continues,” he said.
Underlying homeownership is wealth building, something Black and brown families have missed out on. Historic policies like redlining and the G.I. bill prevented earlier generations from becoming homeowners.
Kearney said this is something the city is actively trying to rectify.
Homeowner Lisa Davis came to get more information about how to help her children be able to own a house of there own.
“You wouldn't even know unless you come to know that you know how much you're missing out on,” she said.
The key message: there are resources available no matter your journey on a path to homeownership. Kearney said the feedback has been insightful about how to message available resources throughout the year.
“They want to see another workshop on resources like down payment assistance, on home repair money, which the city has as well,” the vice mayor said.
In the meantime, attendees like recent graduate Mason are leaving with a better sense on how to further their own path.
“It was a good thing to learn all those different grant programs that can help me be a first-time homebuyer, so I can succeed and that can lead to my generational wealth,” Mason said.
For more information about OWN BLK CINCY, click here.
