November 19, 2023
There are 194 homes set to go into the new Ohio program.
The Greater Cincinnati Port Authority and the Greater Cincinnati Realist Association have partnered to help those looking to buy homes surpass barriers of the buying process that keep them from finding their dream homes. Through financial and literacy support, the two organizations are helping people afford their forever homes and increase homeownership across minority groups.
The Greater Cincinnati Port Authority and the Greater Cincinnati Realtist Association were spurred in their mission after the release of the latest homeownership data from the National Association of Realtors, Spectrum News 1 reported. It showed that the homeownership rate for Black people living in Ohio is just 36%, and it’s even lower for those who live in Cincinnati at 25%.
The Port and company has acquired 194 single-family homes from out-of-town investors. The acquisition has opened up the opportunity for more minorities to be able to move into homes.
The Port’s motto is “Jobs families can live on. Homes they can afford. Cleaner, greener, safer neighborhoods and business districts.” They promised to “[pioneer] new models of real estate equity, developing new solutions – and contributing to the story of our region’s renaissance. For new, job-creating advanced manufacturing. For neighborhood-serving business districts. For a range of affordable housing options.”
Darrick Dansby, the Greater Cincinnati Realist Association president said in a press release, “Having this inventory that is specifically dedicated to starter homeowners and homeowners who have the opportunity to buy a home based on their income, we believe that these products will help us make a little bit of help to increase that black homeownership rate.”
Both groups are dedicated to reaching out to minorities in particular, who need help finding houses on the job market and who have had some difficulty with it in the past. So far, eight homes have been listed on the market for sale, with the rest soon to follow.
Source link : www.blackenterprise.com