Wednesday, July 28, 2021

Sold Standard

How Las Vegas’ Black realtors are creating wealth for African-American families.

There was a time when African-Americans in Las Vegas had no choice but to live in what is now the Historic Westside community.

But the federal Fair Housing Act was enacted in 1968, and a wave of desegregation opened up new possibilities for African-Americans to live where they wanted to live and to buy land throughout the valley. What some may not realize is that before desegregation, Black families in Las Vegas owned property in the downtown area of Fremont Street and land near the McCarran Airport. In fact, the first Black nurse in Southern Nevada was Lubertha Johnson — who moved to Las Vegas in 1943, and joined her parents on a 24-acre ranch in Paradise Valley where they raised chickens near Eastern Avenue and Sunset Road. Many Blacks in Las Vegas found the ranch to be a favorite recreational spot and the local NAACP (which Johnson served as the President) held its annual picnic there.

As we celebrate the current housing landscape in Nevada, we pay tribute to the many African-American realtors making home ownership possible for everyone across the valley. Their dedication is responsible for the prosperous growth we see in Las Vegas, Henderson, North Las Vegas and other areas around the entire state.

Their work is particularly impactful for the Black community: across America, Black families are much less likely to own their own home compared to White families and other races. Since homeownership is the key to wealth, the Black homeownership gap is directly tied to the nation’s Black-white wealth gap. And unfortunately according to statistical data, the gap has continued to widen in recent years. It is promising to see so many African-American realtors committed to leveling the homeownership landscape in Nevada — by sharing homeownership education, programs, and financial assistance opportunities with the Black community.

Las Vegas Black Image Magazine, along with the Rural Housing Authority’s “Home At Last” program, recently feted Las Vegas’ Black realtors at a celebratory reception to honor their commitment to driving homeownership and creating generational wealth for Black families in Nevada.

According to realtor Dez Black, “Home ownership is without a doubt the most sought-after experience amongst all generations. Aside from my relationship with Jesus, I don’t know what is more important to me than making sure my family and successors to come will never have to struggle. Home ownership is not just lumber of land, it’s an asset that can forever appreciate and potentially create passive income, as well as provide beneficiaries with their first lump sum of money. Home buying can seem intimidating, but you buy the home, not the market. When looking to purchase a home, it’s important to have a professional to guide you through the process. No one works with sales people, we work with friends so regardless of who your real estate professional is, make sure it is someone you trust, that is knowledgeable and that values you more than their commission. It’s time to stop renting and see how $1.4 trillion Black dollars can shift the market! As my Victory MBC family used to say, ‘You’re already paying a mortgage, it just isn’t yours.’ My brand, @SoldByBlack, is committed to educating people on the market and strengthening our people in the many facets of building generational wealth.”

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