Photos:NAREB
DETROIT, MI—The National Association of Real Estate Brokers (NAREB) hosted a Detroit stop on its national Affordable Homeownership Bus Tour on Monday. The event, held at the Wayne County Community College Welcome Center, raised awareness among public officials, community leaders, and the public sector about systemic housing inequities and the importance of stakeholder engagement in addressing them. This initiative represents a major push to help individuals and families achieve and sustain the American dream of homeownership.
NAREB President Ashley Thomas III and Greater Detroit Realtist Association President Renae Johnson led the event. Other prominent speakers included NAREB First Vice President Danny Felton, Second Vice President Marcus Brown, and Third Vice President Amber Lewis. Together, they addressed the critical barriers to equitable housing access and shared comprehensive strategies to build generational wealth.
Coleman Alexander Young II, Detroit City Councilman at Large and council president pro tempore, echoed this sentiment, highlighting the broader societal benefits of homeownership and the opportunities lost during the housing crisis.
“This could not be more needed. I thank God so much for NAREB and what you guys are doing,” said Young. “Homes are the foundation on which everything is built. It’s an economic justice issue. It’s a public health issue. It’s a civil rights issue. It’s dignity, it’s tranquility, it’s humanity. And so the fact that you are doing all that you can, you’re literally taking the shirt off your back, and you’re going across the country to allow people to have access to the American Dream. People of color need access to home ownership. It’s such a blessing because that’s how you build wealth. I think it’s so important.”
Further, Young asserted that housing stability directly impacts future generations and neighborhood vitality.
“Our kids perform better in school when their family lives in a home they own, that’s stable,” he said. “Neighborhood benefits from homeownership. And so this is literally the difference between life and death for some people. We have a housing crisis here in Detroit. We’re trying to build all kinds of homes, whether it’s container homes, single-family homes, triplexes, or 3D-printer homes. We’re trying to do it all. And so to have NAREB come here and be a key part of that, I’m just so thankful.”
In Detroit, the statistics highlight a pressing need for systemic change. While Black residents made up 81% of the city population in 2024, they accounted for only 63% of mortgage originations.
Moreover, Black applicants face more than double the likelihood of being denied a mortgage loan compared to similarly qualified white applicants. The event aimed to directly address these disparities, using data from the 2025 State of Housing in Black America Report (SHIBA) to map the specific barriers Black homebuyers face.
Homeownership remains a powerful path to wealth creation and economic stability, yet the national Black homeownership rate currently sits at 44.2 percent. This number falls significantly below the 75.1 percent rate enjoyed by White families. The generational gap is equally alarming, as only 33% of Black millennials own homes compared to a 65% homeownership rate among their White counterparts. The SHIBA report also reveals that Black women currently face unprecedented challenges in securing a home.
Recognizing the urgency of this housing climate, Thomas, the NAREB President, created the Affordable Homeownership Bus Tour to support housing equity initiatives and encourage stakeholder support. The initiative aims to deliver substantive education to communities, elevate data-driven conversations about affordability, connect residents to real-time homeownership opportunities, and build enduring partnerships that support long-term housing solutions.
The event offered attendees extensive educational programming and direct support. Participants received one-on-one counseling from lawyers, real estate agents, and housing counselors. A session titled Renting vs. Owning: Building a Better Future explored the true long-term costs of renting versus buying property. Another critical seminar, From Housing to Homeownership, demonstrated to attendees how Section 8 housing certificates can serve as a viable pathway to homeownership. The Heirs Property Rights session taught participants how to secure legal property rights and prevent the devastating loss of family-owned homes. Participants also gained valuable financial insights through the Credit Power Turn Rent into Wealth session.
Marcus Twyman, a member of the Detroit Property Assessment Board of Review, emphasized the practical impact of the evening.
“I believe this is an excellent event. It is well needed and deserved. The people of Detroit need to know more about home ownership,” he said. “Not just buying, not just selling, but also owning and keeping their current property. The event is an excellent resource for information. There are banks and lenders, as well as title companies. And we’ve incorporated departments within the City of Detroit as well. Specifically, in my department, we help citizens understand their tax bills. We allow them the opportunity to reassess their values. And we work with the community to help save their homes.”
The multi-city trip has stopped in Philadelphia, Baltimore, and Detroit. It will continue to Gary, Kansas City, Memphis, Little Rock, and Tulsa as part of a national strategy to close the wealth gap. Jointly presented by NAREB and the African American Mayors Association, the tour calls on community leaders, housing professionals, and policymakers to support ongoing efforts to promote housing equity. It unites a broad coalition of local real estate boards, financial institutions, housing agencies, elected leaders, and faith-based organizations to foster community engagement in these initiatives.
Phyllis Dickerson, CEO of the African American Mayors Association, stressed the power of this unified approach.
“We’re so proud to support our AMMA Business Council members and the National Association of Real Estate Brokers as we launch an eight-city affordability bus tour, bringing critical economic empowerment, housing, education, and wealth-building resources directly into communities led by our member mayors,” Dickerson said. “This partnership reflects our shared commitment to expanding access, creating opportunity, and strengthening pathways to homeownership.”
A massive network of partners makes the tour possible, including Alpha Phi Alpha, Delta Theta Sigma, Sigma Zeta, the NAACP, the National Council of Negro Women, and the Urban League. Key NAREB affiliates, including the NAREB Investment Division – Housing Counseling Agency and the Women’s Council of NAREB, serve as central pillars of the effort. The initiative also receives robust corporate sponsorship from industry leaders, including Airbnb, Bank of America, KeyBank, Rate, US Bank, and Wells Fargo, with KeyBank, Rate, Wells Fargo, and Bank of America directly supporting the Detroit activation.
The Affordable Homeownership Bus Tour focuses on providing real action and access. Attendees leave equipped with tangible resources, vital connections to trusted housing professionals, and a clear route toward property ownership. For Detroit and communities across the nation, these events serve as an essential entry point into programs that help transform renters into owners, laying the groundwork for lasting generational wealth.
