The National Association of Real Estate Brokers and the Church of God in Christ INC are collaborating for National Building Black Wealth Day April 13.
“We are thrilled to coordinate with our partners,” said Dr. Courtney Johnson Rose, president of NAREB. “It is critical that African Americans and other communities of color have pathways to building wealth. The immense racial wealth gap is a fundamental cause of inequities in American society.”
The celebration will consist of events across 100 cities, including Indianapolis, throughout the week of April 13. The organizations will host seminars and one-on-one sessions to empower Black communities across the country, providing information on homeownership, property investment, starting a business and other wealth-growing education tools.
NAREB will also offer virtual sessions and online conversations so participants across the nation can access these tools.
“NAREB’s Building Black Wealth Day is one component of our Building Black Wealth Tour, which helps families and individuals create family economic security through becoming homeowners, and other wealth-building tools,” Rose said
NAREB was founded to help create housing opportunities for all, regardless of race, creed or color. It has spoken in favor of legislation that ensures fair housing, sustainable homeownership and access to credit for Black Americans.
The COGIC is a Pentecostal-Holiness Christian denomination with a predominantly African American membership. It is the fourth largest Protestant group in the U.S. with over 13,000 churches in 105 countries, according to a press release from NAREB and COGIC.
“The Church of God in Christ is thrilled by the opportunity to collaborate with NAREB on the 100 City Community Impact Day. This partnership embodies the spirit of unity and service that defines our church,” said COGIC Presiding Bishop J. Drew Sheard.
Sheard also discussed plans for COGIC to use their churches to help with celebrations during the week of National Building Black Wealth Day.
“Together, we will open our doors, hearts and minds to provide essential resources, including facilities, prayer tents and mental health support, to uplift and empower our communities. Through our collective efforts, we will sow the seeds of hope, healing and transformation, leaving an indelible mark on the lives of those we serve,” Sheard said.
The aim of National Building Black Wealth Day is to lower the economic inequality gap between Black American families and their white counterparts. NAREB’s 2023 State of Housing in Black America Report (SHIBA) found that the 400 wealthiest Americans control the same amount of wealth as the total 48 million Black people who reside in the U.S.
The Federal Reserve reported that, on average, “Black Families own about 24 cents for every $1 of white family wealth”; Brookings found that white families have a median wealth of $171,000 compared to $17,000 for Black families.
Rose called this wealth gap “intolerable.”
“The disparity has widened over time, perpetuating systemic poverty in communities of color,” said Rose. “Closing the racial wealth gap is essential for achieving true racial equality, and [this] has positive effects on American society. When there is greater economic equality, studies show lower crime levels, better health outcomes, higher social trust and less divisiveness.”
The Central Indiana Realtist Association, the Indianapolis chapter of NAREB, will take part in the National Building Black Wealth Day celebrations. The association wants 1,000 families to attend the Kennedy King Center to learn about building generational wealth through homeownership on April 13.
The events are being hosted at the same time as the association’s “Realtist Week,” an annual week of events that serves the Indianapolis Community through NAREB’s five pillars: faith-based civic engagement, women investing in real estate (WIRE), diversity & inclusion/small business, multi-generational wealth building and government relations/advocacy.
“Building Black wealth can contribute to a more equitable society, promote upward mobility and social equality, and foster economic stability and growth,” Rose said.
Tickets for the events are currently unavailable but more information on events and access to tickets is expected the week of April 1. Learn more about the Central Indiana Realtist Association and view updates on the upcoming events at ciranareb.org.
Contact Racial Justice Reporter Garrett Simms at 317-762-7847
