Black Sorority Seeks to Boost Home Ownership Among African Americans

According to the U.S. Department of Housing and Urban Development, less than one half of all black families own their home. In contrast, about three quarters of all white families own their home.

For the last four years the Delta Sigma Theta sorority has been trying to boost home ownership among African Americans. Sorority chapters hold home fairs on college campuses across the nation. Mortgage lenders attend these fairs and compete for the business of black homebuyers. In addition, seminars are held on financing and other aspects of buying a home. The sorority hopes to generate $100 million in new home loans for black buyers this year through its events held on college campuses.