The U.S. Department of Housing and Urban Development commemorated National Homeownership Month with the launch of a housing counseling awareness campaign.
June is National Homeownership Month, according to a June 1 news release. HUD is launching the Let's Make Home the Goal initiative, a multi-year, countrywide effort to raise awareness of the advantages of pre-purchase housing counseling offered by HUD-certified housing counselors.
“I want everyone in this country who desires to own a home of their own to have access to the resources and tools they need," HUD Secretary Marcia L. Fudge said in the release. "This National Homeownership Month, we will reflect on the importance of homeownership as a tool for wealth-building and stability for American families. HUD is proud to launch our housing counseling campaign 'Make Home the Goal."
The Biden-Harris administration is leading the charge to increase equity and opportunity via homeownership, the release reported. The goal of the campaign is to reach communities of color, who have historically had more trouble owning homes because of institutional impediments.
Let's Make Home the Goal is expected to reach almost one million potential homebuyers in 13 states through advertising, events and public service announcements, with future plans to expand to new markets, the release said.
"Housing counseling is one of the ways we can bridge the knowledge gap that keeps many well qualified households from seeking homeownership," Fudge added, according to the release. "I am thrilled to personally invite communities to our second house party, this time on the National Mall, to meet with housing counselors and get important information about the home buying and ownership process.”
Fudge will host the House Party 2.0 event, set for 1-5 p.m. June 10 on the National Mall, the release reported. The event will highlight HUD's dedication to assisting more Americans in fulfilling their ambition to become homeowners. Aspiring homeowners are invited to the free event with live music, refreshments and details on housing counseling, financial education, down payment aid and FHA mortgage loans.
This occasion is a component of the National Mall's Innovative Housing Showcase, which runs June 9-11, according to the release.
For American families, owning a home is the main source of generational wealth. It is also essential to bridging the wealth gap for Black, Indigenous and people of color (BIPOC) communities, the release said.
Black Americans have a homeownership rate that is more than 30% lower than that of white Americans, according to U.S. Census data, the release reported The gaps between white Americans and every other BIPOC group are also comparable.
By expanding options and reducing barriers for first-time, low- and moderate-income homebuyers and communities of color, HUD is reaffirming its commitment to homeownership, according to the release. These steps will assist people and families in achieving homeownership's promise for stability and wealth-building.
