HOUSTON, Texas (KTRK) -- This weekend, there's an event aimed at helping Black men become homeowners.
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According to census data, 10.7% of homes in Texas are owned by single women, and 8.5% of homes are owned by single men. For Black men, this percentage is even lower.
Realtor.com found that between 1990 and 2019, Black women increased their homeownership rate by 5.6%, in keeping with national trends. In contrast, Black men's homeownership rates declined by 8%.
Kevan Shelton with Park Street Homes has seen the discrepancies firsthand and created a program called Black Men Buy Houses. The workshop pools resources for potential home buyers into one room at an event featuring panels, speakers, and informational sessions.
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"While interest rates are crazy, date the rate and marry the home. Starting that process builds wealth over time, and you won't be able to get that time back. For us, millennials, it's important for us to take that next step so within the next 10 years, we're building equity. That's something slipping away for so many people," Shelton said.
Everyone is welcome to attend the free event on Saturday, May 11, at The Community Collective for Houston starting at 11 a.m. Organizers are expecting 1,000 attendees.
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