African American Home The Modern Day Black Power Movement

In the 60's the watchword for African Americansthan ever before. Thanks to the many first time
was Black Power. The meaning behind the termhome buyer programs many African American
meant political, social and economic power forhome purchases have closed.
many disenfranchised African Americans.The legacy and long-term wealth of millions of
Over 40 years later a new modern dayAfrican American families can sprout from the
movement has taken place, and this movement ispower of homeownership. Homeownership has
working to uplift a host of communities acrosslong proved to be the key to long-term economic
America. Many have coined it the modern daydevelopment and growth of communities.
Black Power movement. Unlike the movement inAfrican Americans continue to find ways to
the 1960's and early 70's this movement requiredovercome the residue of racism to purchase
no protest, fist clenching or even slogans towhat to many is the true American Dream. The
empower African Americans.thought of paying rent burns in the minds of
This movement is homeownership. The Africanmore and more African Americans more now
American home has long been the seat ofthan ever before.
economic power and wealth for people since theThis reflects itself in the risky African American
beginning of time. Now African American homehome financing you see many stuck with.
ownership continues as the tool of economicPredatory loans with high fees, interest only loans
empowerment for thousands of Africanas well as negative option loans dot many African
Americans.American communities. Many African Americans
African American home ownership continues totake these risky loans for the chance to own a
rise. According the U.S Census Bureau,piece of the American Dream.
African-American home ownership continues toThe Dream of not only establishing roots, but
reach record levels. According to The 2004having a legacy to pass down to there children
Census Bureau report African-American homeand grandchildren. Pride of homeownership is
purchases reached 49.1 percent, up strongly fromhelping to build and rebuild communities across
42.3 percent 10 years ago.American from large urban centers to rural
With more African Americans realizing thecommunities.
importance of home ownership, moneyNow the challenge is to educate more African
management and education the numbers areAmericans on home financing and home
expected to rise. The biggest obstacles to themanagement. The challenge is finding help for
African American home continues to bethose African American homes threatened with
discrimination.foreclosure because of predatory lending
African Americans still sit at the top of the listpractices.
when it comes to discrimination, according to theCongress and other Federal and State agencies
U.S Housing and Urban Development. Discriminationcontinue to examine solutions, ideas and policies.
in home loans, home sales, predatory lendingMeanwhile, African American homeowners must
practices, home improvement schemes and othertake it upon themselves to seek help and to
categories continue to stifle African Americaneducate themselves to keep their homeownership
home growth.dream alive. Yes, the African American home is
Despite the obstacles more African Americangood for a community and good for America.
home purchases have closed in the past 10 years