"Re-Building Communities One Household At A Time"

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At Black Housing Matters, LLC., we are passionate about addressing the macro-economic shifts of housing insecurity.  Since the inception of the Federal Housing Administration's "National Housing Act of 1934," aka - "Better Housing Program," Black Americans have been marginalized and denied affordable housing opportunities congruent with real estate empowerment, economic gain, and generational wealth.

 

In the 1940's - 50's & 60's across the USA, The Federal Housing Administration (FHA) was subsidizing construction Builders who were mass-producing entire subdivisions for White Americans with the requirement that "none" of the homes were to be sold to Black Americans.

 

Mandated in "The Underwriting Manual Of The Federal Housing Administration:"  "Incompatible racial groups should not be permitted to live in the same communities," those very houses were sold to White working-class American families via FHA and VA mortgages yet, prohibited to Black Americans. In addition, the immediate re-sell of these houses sold for twice the National Median Income. Today, those same houses sell for six to eight times the National Median Income allowing White Americans the opportunity to acquire real estate wealth; send their children to college via home equities; take care of their aging and ailing parents; bequeath wealth to their children, and other acquired economic gains. "None of these advantages however, accrued to Black Americans."

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Although favorable "government loan guarantees" ignited and fueled the housing boom for affordable, single-family shelter in the suburbs, these "FHA policies prohibited Black Americans from buying homes in those sub-divisions which, symbolized both the conformity of an American post-war consumer society, along with its promise of homeownership, stability, and upward mobility." Racial restrictive covenants, and protective homeowner agreements were "legal tools" of segregation, and marginalization.

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To be clear, albeit these subdivisions were "built" for White Americans, "sexism in lending practices" (the irony) also prevented White Women (without a male co-signer) homeownership privileges. Hence the passing of the  "Equal Credit Opportunity Act - ECOA" in October, 1974. 

 

Governmental housing regulations and policies which, were to provide every American an equal share of the United States Of America dream landscape, never reached working-class Black Americans in proportion.

 

For example, former residents in Palm Springs California have been "fighting back" after an entire neighborhood (Section 14 - near downtown Palm Springs) of mostly working-class Black and Latino Americans were forcibly evicted and displaced by the City of Palm Springs by means of violent racism. Over sixty-years (60) ago, these resident's homes were burned and bulldozed to the ground with the pre-planned and determined intention of forceful removal! "In total, 235 structures were burned down by the city from 1965 to 1967, according to city documents, and about a thousand residents were evicted and were never paid for their losses."

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Sadly, ongoing de-valuation and destruction of housing amongst Black and Latino homeowners and neighborhoods, continues still in 2024.

 

The FHA and banking institutions across this country, has long been known to serve a disproportionately larger number and share of minority homebuyers, particularly Black American and Hispanic buyers by means of biased appraisals (McMichael's Appraising Manual created in the 1930's) exclusionary zoning, and redlining practices. As a result, lack of opportunity due to these historic and 'systemic' constraints, including during the introduction of the suburban surge, in comparison, has resulted in the arrested development and acquisition of Black and Latino real estate relevance.
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In summary, incentivized funding across the U.S. similar to tax subsidies of the past, is offered still today by the federal government to state and territorial governments. "State" housing agencies then award the credits to private developers of affordable rental housing projects (Developers generally sell the credits to "private investors" to obtain funding). Once the project is placed in service (in other words, made available to tenants), these investors can claim the LIHTC over 10-years. Many of these tax incentives offered to Developers and Builders require agreeing to reserve a 'fraction' of rent-restricted units, with mandatory allowance percentages, regulations and, ratios specific to certain targeted groups: IE - low-income, senior citizens, etc., via "income and gross rent tests." One popular program is the "LIHTC" program: Low-Income Housing Tax Credit.

Such policies must be met with compliance minimums of at least 15 years or tax credits are recaptured.

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Overall, socio-economic input in underserved communities improves greater financial inclusion, education, inter-generational wealth, and a stronger economy.

 

Accomplishment propels progression. Practical approaches for housing security uplift communities by improving real estate relevance, collective empowerment, and sustainable value... for generations. 

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"The question now is, do you mean to make good to us the promises in your constitution..." (Frederick Douglass)

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"The greatness of a community is most accurately measured by the compassionate actions of its members... 

A heart of grace and a soul generated by love."

(Coretta Scott King)

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"Not everything that is faced can be changed, but nothing can be changed until it is faced."

(James Baldwin)

 

"In this truth, in this faith, we trust.

For while we have our eyes on the future, History has its eyes on us."

 

"So let us leave behind a country better than the one we were left. With every breath from our bronze-pounded chests, WE will raise this wounded world into a wondrous one."

(Amanda Gorman-The Hill We Climb)

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When we know better, we do better.

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​See The Difference...

 One Household At A Time ~

Black Housing Matters - Join US!

Black Housing Matters, LLC

Eva Marie Wright

Founder - CEO

 

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