Industry News
Here’s how you can help spread the word about the benefits of owning a home and support advocacy efforts to expand housing access.
Homeownership is a financial windfall for most households, with homeowner wealth soaring 40 times higher than renters. Over the last decade, most owners have earned more than $100,000 in equity, according to research from the National Association of REALTORS®. Homeownership has long been a primary avenue for building generational wealth and is a crucial component to closing the racial wealth gap in America.
However, barriers are preventing the homeownership rate for Asian Americans and Pacific Islands from stretching even higher, according to the Asian Real Estate Association of America.
The homeownership rate among Asian Americans and Pacific Islanders has seen a “remarkable surge”—now over 60%—but the affordability crisis is threatening further gains for this community, according to the 2023 State of Asia America Report released by the Asian Real Estate Association of America. Fully unlocking this segment of eager home buyers will require policy changes and extra attention to key issues that are holding back further progress, says Sharon Wong, president of the Chicago chapter of AREAA.
As Realtors®, we hold a unique and vital responsibility to uphold ethical standards and legal obligations while fostering a fair and inclusive housing market. Recent settlements highlight the critical importance of adhering to both the National Association of Realtors® (NAR) Code of Ethics and the New Jersey Law Against Discrimination (LAD).
Recent Settlements: A Wake-Up Call
The New Jersey Office of the Attorney General and the Division on Civil Rights have recently reached settlements in four housing discrimination cases involving organizations in NJ. These cases underscore the need for vigilance in preventing discriminatory practices and ensuring compliance with all relevant laws and ethical guidelines.
Landing your first home in today's real estate market is intimidating if you don't have a winning strategy. Watch as determined buyers navigate the complicated journey to homeownership by following the lead of an agent who’s a REALTOR® on First-Time Buyer!
4 Seasons | 32 Episodes
