NAREB and the Dearborn Realtist Board champion homeownership in Chicago

The Dearborn Realtist Board (DRB) and the National Association of Real Estate Brokers (NAREB) recently came together to host their annual Community Wealth Building Day, a celebration of financial literacy, homeownership and self-sufficiency. This year’s event, held on April 13 at Olive-Harvey College in Chicago, was an inspiring testament to the power of education and community support in fostering economic empowerment.

The venue buzzed with activities from 10:00 a.m. to 4:00 p.m., from informative seminars to engaging festivities. At the heart of the event was a commitment to providing tangible resources and guidance to individuals and families looking to secure their financial futures. One of the day’s highlights was the presence of Chance the Rapper, who lent his voice and influence to the cause of homeownership and generational wealth.

One of the program’s primary goals was to educate and support first-time homebuyers. With lenders on the site to offer preapprovals for 50 new home loans, attendees had the opportunity to take a significant step toward realizing their dreams of homeownership. However, the event went beyond mere transactions; it aimed to empower participants with the knowledge and tools necessary to navigate the complexities of the real estate market successfully.

Credit counseling and savings encouragement were key components of the day’s agenda. Recognizing the crucial role that financial stability plays in achieving homeownership, experts were on hand to offer guidance on improving credit scores and building savings habits. These efforts were complemented by workshops addressing loan modifications and the financial benefits of insurance, trusts and wills, highlighting the importance of comprehensive financial planning.

The event extended its reach to youth, providing financial literacy education to equip the next generation with the skills and knowledge needed to make informed financial decisions. By instilling these principles early on, the program sought to lay the groundwork for a future generation of financially empowered individuals.

Addressing broader systemic issues, NAREB’s Black Wealth Tour initiative aims to tackle the disparities faced by Black millennials in homeownership. Collaborating with organizations such as the African American Mayors Association and the National Bar Association, NAREB’s events across more than 100 cities in the U.S. provide a platform for Black communities to access resources and guidance on homeownership, property investment and entrepreneurship.

Partnering with organizations like Delta Sigma Theta Sorority Inc., Alpha Phi Alpha Fraternity Inc. and Phi Beta Sigma Fraternity Inc., the initiative emphasizes the importance of collective action in effecting meaningful change. Through classes, workshops and one-on-one counseling sessions, the event equipped participants with the tools and knowledge necessary to navigate the path to financial prosperity.

Rolling out spoke with Sanina Ellison Jones, local Chicago Chapter President of the Dearborn Realtist Board. and asked why events like this are so important.

“These events are so important because wealth is on the decline in the Black community. Statistics show that by 2053 wealth in our community will have dwindled to zero. We are not going to let that happen. Dearborn Realtist Board is here to empower and educate the community on how to build wealth using real estate,” said Ellison Jones

Take a look at a few photos from the event below.