HUD Participates in the Mid-Winter National Association of Real Estate Brokers (NAREB) Conference
HUD Southeast Regional Administrator Jennings, Jr discussing small business opportunities
More than 500 African American real estate professionals, financial executives, housing counselors and policymakers met late February for the 67th Annual Mid-Winter Conference in Las Vegas, Nevada. The purpose of the conference was to focus on identifying solutions and strategies to assist African Americans to recover and rebuild from the housing downturn through achieving and sustaining affordable homeownership.
HUD Southeast Regional Administrator Ed Jennings, Jr. was a guest speaker and presented on the how to "Get Connected & Invested with Government Contracts". Nearly 100 attendees were provided information to help them as small business owners better understand what government contracts are available and how to compete for those opportunities. Jennings' presentation also touched on information regarding transitioning from a Neighborhood Listing Broker (NLB) to Asset Manager by better understanding and considering leveraging the power of joint ventures.
Earlier in the week Carol Gallante, Commissioner, Federal Housing Administration (FHA) and Assistant Secretary for Housing spoke regarding the housing market along with other distinguished speakers such as U.S. Representative Steven Horsford, serving Nevada's Fourth Congressional District, Larry Parks, Senior Vice President, Federal Home Loan Bank of San Francisco, and Anita Estell, Shareholder, Polsinelli PC.
"African Americans sustained an unimaginable loss of income and wealth during the recent economic meltdown. Our communities are not in a state of recovery and have lost confidence that sustainable, affordable homeownership is attainable," said Donnell Spivey, president of the National Association of Real Estate Brokers (NAREB), the nation's oldest minority professional trade group.
Homeownership rates for African Americans plummeted during the recent economic meltdown. NAREB's SHIBA Report reported that between 2005 and 2009, African-American households lost 53 percent of their net worth, while non-Hispanic white households lost just 16%.
In addition to policy discussions and presentations, NAREB's Mid-Winter Conference program offered real estate professionals opportunities to enhance their professional skills, keep current on federal guidelines, industry standards, shifting mortgage financing protocols, industry trends and best professional practices.
The National Association of Real Estate Brokers (NAREB), was formed in 1947 by chartered African American real estate professionals out of a need to secure the right to equal housing opportunities, regardless of race, creed, or color. For more than 60 years, NAREB has participated in meaningful legal challenges and has supported legislative initiatives that ensure the availability of fair and affordable housing for all Americans.