Twin Cities Diversity Homeownership Fair seeks to close home buying gap
BROOKLYN CENTER, Minn. – For the second consecutive year, realtors, lenders and others associated with the homebuying process volunteered their time at the Twin Cities Diversity Homeownership fair.
The fair seeks to empower those from minority communities to close racial disparity gaps through homeownership.
According to a 2019 American Community Survey, Minnesota has one of the largest homeowner gaps when it comes to race. The report details white Minnesotans owning homes at a rate of 76.9%, compared to Black Minnesotans owning at a rate of just 25.3%. The gap is one of the largest in the United States.
"We know there are structural issues that have shaped the housing market in the Twin Cities, in Minnesota broadly, and across the country," said Peter Brickweddi of the Minnesota Department of Commerce. "Government hasn't always been responsive to help break down those barriers."
Brickweddi says in Minnesota, licensed realtors are now required to complete diversity, equity and inclusion training.
"That's where our role is – where we can help professionals improve, be learning, and change their practice to be a better service to our clients," Brickweddi said. "Having people have the ability to get into safe and secure housing is a bedrock for so many other success - for children, for adults, for families. Having that home is a core part of your ability to successful and secure as a family in the state."
