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photo by steed media service
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Personal Banker, Chase Investment Services Corp.
Brooklyn native Michel Barreau Jr., believes African Americans have a
fear of homeownership. As he greeted current and potential property
owners at the recent Chase Legacy of Homeownership tour, the personal
banker’s main concern was providing education to curb what he calls a
form of ‘community apprehension’.
“There’s a fear, and the fear
is simply based on a lack of knowledge,” he says. “Unfortunately, this
happens to be more pervasive in the African American community — this
fear or this lack of knowledge of what they can accomplish.”
Barreau recognizes as do many considering the opportunity of
homeownership, that land acquisition creates wealth, and thereby, more
opportunities for community development.
“Land is one of the most valuable resources that we have. In a sense,
it’s a natural resource because on land so many things can evolve,” he
says, adding that African Americans could learn a thing or two about
the importance of owning land by looking at their ancestors in ancient
Egypt.
“Even in 2007, [there are] people who are ashamed to identify with
their African ancestry,” he says. “[But the Africans] did at one time
own land and they reigned over their land as kings and queens. In a
sense, [owning land] is the beginning of reclaiming who you are.” – gavin philip godfrey
