Empowering Black Homebuyers - Why ONLY 44% of Black Americans Own Homes

[@a.Janine.pretty]

I’m a single black woman and I’m purchasing my first home on my own in a few months

[@ShaheedahHill]

@a.Janine.pretty Thank you for watching and congrats!

[@rvandoom]

WHERE!??????Yeah right!! Hit me up when that happens !

[@seizeself-loveself-care9869]

Congrats to you!

[@yourfavnurseb9699]

I think the decrease in marriage in our community heavily affects our pathway to homeownership. I’m glad that you all talked about mindset, that one thing stops so many people from doing some of the most basic things needed to get ahead in life. Thanks for giving us more knowledge, it’s very empowering.

[@ShaheedahHill]

I think so too, black women are are outpacing men as homebuyers right now. That is a whole new video. I bought my first house by myself at 23, got married at 26, it was doable by myself..but I don't even think my husband was even thinking about buying until he got married...its another mindset thing as well.

[@shawnise]

10:30 reminds me of a friend I know that tried to tell me it's better to rent than to own a home and if I wanted to own then wait until interest rates come down. In early 2022 she was going on and on about renting and how she was going to wait because it wasn't time since interest rates were up. I told her that I was going to start working on my credit and looking into buying. She said to me, if I were you I would just wait because everything is going up and she didn't want me to buy something I can't afford. I ignored her and spent the next few months working on my credit and got it up to where I wanted it. Then I got with an agent and lender and by April 2023 I closed on my house. I think she's still waiting on interest rates to fall. If I would have waited I don't know if I could have afforded the apartment I was living in because it kept going higher. My mortgage is less than I was paying in rent.

[@ShaheedahHill]

@shawnise Thanks for watching and sharing

[@candelariaw1668]

Congratulations!!! Everyone want to tell you what they won’t do!! Glad you followed your own advice.

[@aleesheacosby8332]

Kudos to you and congratulations on your new home.

[@shawnise]

@@candelariaw1668 Thanks

[@Joanna-nb3bc]

One should always have their documents ready to buy and bite the bullet when they're ready. Rich investors have time to wait on the sidelines indefinitely.

[@CharReal1348]

Here are your flowers. This was an awesome video. This is not talked about enough in our community as agents.💐💐💐

[@ShaheedahHill]

Thank you so much. I appreciate the agent support and the flowers😊

[@CharReal1348]

@@ShaheedahHill You're welcome🙂

[@wealthandwellnesswithGrace]

This is a great reason why I became an agent. Thanks for sharing your perspectives.

[@jblogic4u]

Great show full of good information. Excellent way to celebrate Black History Month by encouraging and promoting homeownership. Let's get that number up.

[@ShaheedahHill]

Thank you so much!!

[@T3r0tea]

DPA was putting me in a position that I could not find the house that i need to the city that I love. They were offering me 20000 with an interest rate of 6.785%, with this interest rate, the affordability was low. I went with new construction where I decided to bring my own down payment ( 20.000$) and my interest rate is 4.99% fixed and the builder pay 9000$ towards closing cost. I purchased my dream home in the city that I love just by choosing to put my money. My affordability went from 500.000$ to 625.000$

[@ShaheedahHill]

@djiniveebenza2622 Thanks for watching and sharing

[@Allthingsarepossibl3]

So grateful for these group of African American professionals in the real estate industry. Very informative information. Im looking forward to reaching out to Dietric after i get my mortage approval letter, im looking for a townhome in southern california. I am a black woman, Knowledge is power

[@ShaheedahHill]

Thank yo so much for watching and for the support!

[@Avanaih]

That is a terrible Statistic that black home ownership is so low. It is so much better to own than to waste your money on rent.I purchased my first home in 2022.

[@ShaheedahHill]

@Avanaih Thank you for watching

[@niccoarcadia4179]

Having a nice apartment in a vibrant area of a city was always the desire. To be near to the neon lights and clubs. Getting a house meant isolation.

[@ShaheedahHill]

@niccoarcadia4179 Thanks for watching and sharing

[@tropic1798]

🌺 🌺🌺🌺💗Thank You Shaheeda! This was an amazing live. Thank you Dietric and Kevin. I learned a lot from this I will forever remember that last word from Dietric.

[@ShaheedahHill]

Glad you enjoyed it!

[@MarchellDeadmon]

This was awesome. I’m in the process of purchasing a home and was able to obtain a black realtor for the same reasons discussed. We must be willing to work with those who look like us.

[@ShaheedahHill]

@user-xz6pt4fj1c Thank you for watching

[@economicdevelopmentplannin8715]

Get money buy assets Find similar housemates Everything else works out ❤

[@DallasTX_1122]

I am African American and utilized a Hispanic realtor. Best decision ever because the builder of my home was Hispanic, barely understood English. She was able to translate and understand them. I don’t think the realtor just has to be African American but diverse overall.

[@ShaheedahHill]

Good point, thanks for sharing.

[@DietricWilliams]

Good point...some of us speak Espanol tool 😂

[@804swervin87]

Love the channel and this video. Point blank prices have to come down!!!! Inventory has to increase, and sellers have to list homes at an affordable price. Prices will continue to go up over the years, but that has never stopped previous generations from purchasing. So whats changed??? The PRICES! Im im richmond va and we have 1,900 to 2000 sq feet homes selling for $450,000-$500,000. Thats unaffordable for the average American household.

[@ShaheedahHill]

Thanks so much for watching.

[@de2296]

So true

[@economicdevelopmentplannin8715]

Move to DC area. Highest ratio of high income job openings versus the cost of a renovated bathroom suite on bus stops. PG county Maryland specifically Buy with housemates ❤

[@sherb.6340]

For me I'm the first person to get approved for a home loan and for me it was the fear of the unknown to purchase a home 6:33

[@ShaheedahHill]

Congratulations for taking the first step, you may be the first but you will not be the last in your family. Share your experience and let others learn from you. Thanks for sharing.

[@shun23ish]

This is me also! It’s the unknown of owning a home that terrifies me.

[@sherb.6340]

@@shun23ish I say this Queen the more I'm into the process of owning my first home 😄 the only thing that held me back was myself and determineation... We got this 😉

[@shun23ish]

@@sherb.6340 Thanks Beautiful! Fear is my biggest issue but I’m going to a homebuyers seminar on Wednesday to learn information about the process & get any questions answered that I may have! We most definitely got this!!! ❤️

[@de2296]

Thxs for this comment because I feel the same way.

[@wealthandwellnesswithGrace]

I agree with all the points you all mentioned. The state of real estate in the Black community is very disheartening. And if we don’t get the support from the few who are actually buying, we can’t maintain ourselves in business. Sadly, we’ve always been on the menu, we should understand what’s at stake and stop fighting to be accepted. Instead do something about our liberation by economically empowering ourselves.

[@ShaheedahHill]

@wealthandwellnesswithGrace Thanks for watching and sharing

[@zbac9870]

I am 23 and finally have a good paying job here in FL. I plan to buy a property this year, unfortunately with prices it’ll most likely have to be a condo for now until I decide to get married

[@rvandoom]

If you haven’t bought your condo yet in Florida, don’t do it !!!

[@andreathomp]

Great information 👏🏾👏🏾👏🏾👏🏾 Thank you all so much “If you don’t have a seat at the table, it’s probably because you’re on the menu”

[@ShaheedahHill]

Thanks for watching and for the support

[@economicdevelopmentplannin8715]

Having no mortgage rent or debt is the best thing for our families ❤

[@cd1452]

Love this conversation. Thank you

[@ShaheedahHill]

Thanks for watching

[@137-w7g]

Thank You !💐

[@ShaheedahHill]

You are so welcome

[@OmniCloud987]

I was in the market in 2019, we barely would've made it on our own. Got prequalified and began looking, and then, covid happened. Houses are now 40-80K what we were looking at, and tbh, they just don't seem worth it at this point. I will be ready again by summer of this year, but NJ is really just feeling unaffordable atm.

[@Ava44322]

Same story. Were looking at houses with my wife in 2019 and ppl were paying 10-20k more than asking price then. Now those same house are listed $50-100k more than what they were bought for and and NJ property taxes and HOA’s continue to rise.

[@ShaheedahHill]

@OmniCloud987 Thanks for watching and sharing The market changed quickly and NJ is so expensive in general, so keep planning and maybe even consider moving to a more affordable state.

[@DallasTX_1122]

I’m afraid what the housing market will look like in the next 10 years when our kids grow up. Very scary what home prices and interest rates will look like.

[@ShaheedahHill]

Yes, we didn't talk about it during this live but corporations are buying up many of the affordable options. I think more likely than not it will be more difficult to buy in the future for lower and middle income Americans

[@Indiagordon]

It’s extremely difficult now.

[@missbttrsctch]

Thank you Sha!! So sorry I missed the live; but thank you ALL for your time and hard work!! I especially want to thank you for answering that last question with so much TRUTH!! I am SICK and TIRED of our people tap-dancing around these issues and trying to deny that these systemic roadblocks are still there - THANK YOU 🙏🏾🙏🏾 and bless you ALL!!!!

[@ShaheedahHill]

@missbttrsctch Thank you for watching and for your support👏🏽

[@leftfootedblackwolf5662]

Thank you so much Mrs Hill for sharing all your knowledge much love and respect.💛

[@ShaheedahHill]

Thanks for watching!

[@ShonIverson]

Dietric is an amazing addition! I learned so much ❤❤

[@ShaheedahHill]

Yes, he is great. Thanks for watching the replay. If anyone is thinking about buying or selling in California - give him a call.

[@DietricWilliams]

Thanks Shon! I appreciate you!

[@anthonysutter1078]

I do not want to maintain a property to live in by myself (single). Apartment living suits my budget and lifestyle. I also grew up around many older people who owned homes they could neither maintain nor sell once they retired and began to live on fixed incomes. That said, for those who desire home ownership, those issues can be addressed. That's my answer as to why I'm part of that 56% of Black Americans who do not own homes.

[@erickamitchell7414]

One thing to consider is that you'll still be paying rent after you retire, while those who chose to buy will have paid off their homes by then. If you never buy then it means that you'll always have to worry about how you are going to pay rent, which can be stressful at 80 or 90 when you are no longer able to work. A housing payment is usually one of the biggest monthly expenses and this is not something that you want to worry about in your golden years, as other expenses (primarily medical), will have increased. Just a thought. ☺

[@ShaheedahHill]

I understand and I know we will never be at 100% but please also note that wealth for Americans is primarily in the equity in their homes, so it is not just ownership it is wealth creation and transfer. So if you don't want the reposibility please make sure you are invested in other areas : retirement accounts (index funds/mutual funds, etc.) and small businesses.

[@HarlemSexyBlaqkat]

@anthonysutter1078 What about townhouse or condo or co-ops you pay for maintenance fees so you don't have to deal with repairs etc. eventually you will own unlike renting.

[@DietricWilliams]

See it as more than a place to live but also an investment vehicle. You're taking money from your bank account to the bricks of the home (which you can utilize later)

[@zarario4444]

There are plenty of people who are single and are able to maintain a home. I know a few personally. It's about mindset.

[@reginaldthomas1038]

I LOVED this live discussion..Thanks Everyone.

[@ShaheedahHill]

Thanks so much for watching!

[@suburban_utopia]

On the question of whether or not to buy a house when you're single with no children. You can leave your assets to friends or charities. You can put it in your will to have it sold and a certain percentage go to this person or that organization. Think about your church or favorite charity...how much good that asset could do for them.

[@ShaheedahHill]

@suburban_utopia Thanks for watching and sharing

[@economicdevelopmentplannin8715]

Leave your entire estate to a bright black American young married couple with a young child You only need their name and address

[@Kurlyk7041]

This was awesome - thank you!

[@ShaheedahHill]

You're so welcome!

[@samariahoward4024]

Love that you guys are doing this for the black community ! ✊🏽

[@ShaheedahHill]

@samariahoward4024 Thank you for watching

[@economicdevelopmentplannin8715]

Buying with housemates, family friends or spouse, really accelerates the mortgage payoff

[@tamj3927]

Very helpful, thank you all

[@ShaheedahHill]

@tamj3927 Thank you for watching

[@damoneajohnson]

I highly appreciate the information and yes this will help change our mindset in areas of financial decisions and investments yall have become my favorite dream team on here thank you guys yall dah bomb

[@ShaheedahHill]

@damoneajohnson Thank you for watching

[@kay_o5868]

This was great and informative.

[@ShaheedahHill]

Thank you for watching.

[@kim5tivo]

I changed employers but same job position. Over 5 years previous but current job less pay. Credit 700. Debt 22K due, 3/4 of car loan. Rent lease renewal in 3 months. Can I still get a loan or just continue renting?🙄

[@ShaheedahHill]

You can probably get approved for a mortgage. Reach out to Kevin.

[@saritamoorebansa4485]

Great commentary…..❤ ❤❤❤ I think the reason why black people have low homeownership is personal priorities. I have two 😂girlfriends who spend thousands on hair/nails/clothes and swear they can’t afford a house at today’s prices. I am saying do you really want to be in an expensive apartment (no equity) and eventually you are priced out of house . I also think 🤔 there is a correlation between homeownership and saving too. My single and married friends who own a home are save/loud budget in a heartbeat,but my single apartment living friends spend like no tomorrow… ❤❤❤❤❤

[@ShaheedahHill]

@saritamoorebansa4485 Thanks for watching and sharing

[@chuckfreeman8120]

How many start saving 20% for down payment for no p&I. 6 months emergency account. Lower your debts.

[@ShaheedahHill]

@chuckfreeman8120 Thanks for watching and sharing

[@MoJo-ng5ot]

Ive already bought my home. But I still watch these videos and learn so much. I think I need a financial advisor. Is Kevin a financial advisor? Any recommendations?

[@ShaheedahHill]

Kevin is not a financial advisor, but fee only financial advisor are usually best because they don't earn commission based on the products they offer. You can interview a few, you can find some here - link below. Also, get my wealth weekends checklist😊shaheedah-hill.mykajabi.com/wealth-weekends www.napfa.org/financial-planning/what-is-fee-only-advising

[@economicdevelopmentplannin8715]

Get money buy assets Find similar housemates and work together to do this No one can stop you ❤

[@lilianengandhi3912]

Amazing information. How to contact Kevin please.

[@ShaheedahHill]

Here is his channel, please find his information there. thank you for watching!! www.youtube.com/@thepeopleslender/videos

[@braelynnblue]

I would be interested in the stats of black people who actually have the DEED to their home because buying it while financing doesn’t make it yours, it belongs to the bank. Yes eventually it will be yours when you finish paying the loan, but it’s hard to determine ownership if people are paying on the loan instead of paying it off. You can get one, but can you keep it? Just my thoughts.

[@Cassiet_318]

Great points, but renting a home you would never own is not the way to go. It’s easy to deflect and make these points but we should really be pushing homeownership and higher education.

[@ShaheedahHill]

I don't its relevant to the overall discussion - since the other groups are being measured by the same metric or "ownership", if you paid cash, have paid off a loan, are currently paying a loan. You cannot do anything with a rental because you do not own it, when you purchase a home you can control of the property and you are building equity that is yours. @braelynnblue Thanks for watching and sharing

[@wealthandwellnesswithGrace]

We have to crawl before we walk. Very few people have cash reserves available to purchase a home outright and having a mortgage is a great start.

[@de2296]

That thought scares me as well. How many will end up owning g the deed

[@lisawillis3477]

What is NACA?

[@ShaheedahHill]

The Neighborhood Assistance Corporation of America it is a program that helps you buy a home, with no money down, no closing costs and no mortgage insurance. Here is a video I did on it. kzbin.info/www/bejne/fXnMl6t6d8aAadU

[@deborahanderson4211]

Hi Shaeeda, my mortgage score is 770 as of now. Should I wait until the spring to start looking for a house?

[@ShaheedahHill]

You should begin when you are ready. Not just with credit but savings as well. Watch this video about pre-approval: kzbin.infocpewL4OlpjQ?feature=share

[@MikaNTey]

I don't want the headache that comes with owning a home. Therefore I don't want to be a home owner. Yall gotta realize not everyone wants to follow the "norm#. Family, marriage, kids, corporate job, home ownership etc. To each it's own

[@ShaheedahHill]

@MikaNTey Thanks for watching and sharing

[@rvandoom]

Lol😂!!!

[@economicdevelopmentplannin8715]

Family and freedom is the most scalable path. All assets will go to the people who choose this path.

[@charlesjacksoniii8787]

I am a carpenter/cabinetmaker by trade I would like to build my own home where can I go and apply for a construction loan?

[@ShaheedahHill]

@charlesjacksoniii8787 Thank you for watching. It depends, I will reach out to a lender to see how that process works when you want to build your own home versus the lender paying a builder. Here is a link to a video that I did on building a home on your own land. kzbin.info/www/bejne/fKfVf2OEjK-cZ5I

[@charlesjacksoniii8787]

@ShaheedahHill Okay thanks I will watch the video.

[@wwiya93jp]

Flowers 💐💐💐🎈🎈🎈

[@ShaheedahHill]

@wwiya93jp Thank you for watching and for the flowers🥰

[@ernestinephillips9862]

$700 car payment! Wow!

[@thepeopleslender]

I have seen higher than that

[@ShaheedahHill]

That's the avaerage in America right now. It's crazy. And imagine people with multiple cars.

[@zz0ldmovieloverzz]

The lack of deisre to build families is also a factor.

[@ShaheedahHill]

Yes, that makes sense as well. @zz0ldmovieloverzz Thank you for watching

[@economicdevelopmentplannin8715]

Our generation isn't pushed to make families. But you have to just do it anyways. And get your financial freedom at the youngest ages Family and freedom model ❤

[@ernestinephillips9862]

Right

[@ShaheedahHill]

@ernestinephillips9862 Thank you for watching

[@CEL4581]

🎉🎉🎉

[@ShaheedahHill]

@CEL4581 Thank you for watching

[@autobotdiva9268]

because its an immediate....IM NOT ABOUT TO DO ALL THAT STUFF....oh ok. rent on then!

[@ShaheedahHill]

@autobotdiva9268 Thank you for watching

[@CleeshoeArt]

Blacks lag behind in this and that.SMH We need to check the sources of the information.

It's obvious..Just look how other races live we are pathetic compared to them.

[@Otujor]

Are you afraid of saying slavery?

[@ShaheedahHill]

@Otujor Thank you for watching

[@MoJo-ng5ot]

💐💐💐💐💐💐💐💐💐💐💐💐🌺🌺🌺🌺🌺🌺🌺🌺🌸🌼🌸🌼🌸🌼🌻🌷🌹 thank you 😊

[@ShaheedahHill]

@MoJo-ng5ot Thank you for watching

[@rvandoom]

Think long term!? You mean think last week price on a house !!! To this week!

[@ShaheedahHill]

@rvandoom Thank you for watching