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New effort underway to boost African American homeownership

Posted at 8:38 AM, Jul 08, 2021
and last updated 2021-07-08 08:38:19-04

(WXYZ) — In tonight's 7 UpFront segment we're looking at a new effort that's now underway to bridge the gap to homeownership.

We're being joined by Wayne County Commissioner Monique Baker McCormick about her recently introduced resolution to boost African American homeownership by 2030.

You can see the full interview in the video player above.

"As a real estate broker myself, that's my other hat, I thought it was important to talk to the issues of homeownership, especially since we're about to lift the moratorium on foreclosures, " McCormick says. "So, I thought that this time would be the right time to press for more policies around helping homeowners, especially in Wayne County and in Detroit, stay in their homes. The US Census data states that there is about 42.3% Black homeowners in the United States versus 72.2% of Whites. So that is a large divide there and it is critical that we create some policies, intentional policies, to turn the tide."