Over the years, the black homeownership rate has been lagging behind that of white counterparts, and this gap has widened since the Great Recession according to some statistics. But as more Black families begin to move into homeownership, a couple has decided to make a change by becoming owners of a 53-acre ranch that they will pass down to their children and grandchildren.
While in 2017 the black homeownership rate was the lowest of all racial and ethnic groups at 41.8 percent, about what it was when the Fair Housing Act was passed in 1968, Rachel Rodgers, a business coach, and his wife purchased a massive ranch this week, and he and his wife took to social media to announce their recent purchase.
Experts have explained that the cause is all about affordability. Indeed, a recent Bloomberg report revealed that renters across the American continent are unable to find properties they can afford because starter-home prices keep rising.
Despite these obstacles, “it appears that now, more than 10 years after a housing bust that hit black homeowners the hardest, more black families are beginning to move into homeownership,” Jeff Tucker, an economist with real estate marketplace website Zillow, pointed out in an interview.
Yet, the Rodgers took their chances and can now be added to the growing list of Black homeowners, encouraged and excited that this is the beginning of greater things for their family
In an interview, Mrs Rodgers said: “We started our business on September 1, 2010. Many have witnessed our hustle -me in the front, my husband as epic, ever-present support in the back.
“As the culmination and in celebration of the last decade of our hard work, we have purchased this 53-acre ranch.
“There’s more to come because we’re over here trying to change the world and we’re far from done,” Rodgers said. “But now we have this beautiful ranch to enjoy with our babies as we continue to build success for ourselves and those around us.”
The Rodgers further encouraged and inspired their fellow Blacks not to give up on their dreams despite the several possible setbacks. “Here’s what I want you to know: your dreams are within reach. They are possible. They are unfolding even now. Even when you think it’s all over. Stay in the game. And get you a squad who will support you every step of the way,” they concluded.