PROPERTY IS POWER! Why one percent matters for Black wealth

by Dr. Anthony O. Kellum Today, Black homeownership hovers around 45 percent, significantly lower than the national average. A 1 percent increase in Black homeownership may seem like a small change, but its ripple effects can be transformative. Homeownership is one of the most effective ways to build wealth, creating financial security and generational stability. For Black families, even a slight rise in homeownership means more opportunities to accumulate equity, access better education, and strengthen community ties. Beyond individual households, it contributes to narrowing the racial wealth gap, boosting local economies, and fostering long-term economic mobility. In short, that 1 percent represents progress toward a more equitable and prosperous future. Let’s explore. Wealth Generation: A 1 percent increase would mean roughly 170,000 more Black families owning homes. Owning a home is one of the most effective ways to build wealth in America. It offers a path to equity appreciation, which provides homeowners with long-term financial security. Those 170,000 additional homeowners would have the potential to build hundreds of millions of dollars in wealth over time, simply by having access to property ownership. Economic Impact: Homeownership doesn’t just benefit individuals; it drives local economies. When families own homes, they invest in...