Urban League of San Diego Seeks to Increase Black and Latino Homeownership

SAN DIEGO (June 12, 2023) – The Urban League of San Diego (San Diego, CA) is seeking to help Black and other people of color into buying their first home.

According to reports by the California Association of Realtors, homeownership is at its lowest within the Black and Latino communities. The peak of Black and Latino homeownership came in 2004, with Black homeowners coming in at 50%, with Latinos being around 56%.

For Al Abdallah, interim president and CEO of the Urban League, there is a flaw within the system. “These are systemic racial issues that we must tackle in this country,” he said.

With housing prices climbing higher and higher, Abdallah fears that the dream of homeownership for the Black and Latino community remains exactly that – a dream.

“You could do all the right things. But if you’re paying $3,000, $4,000 per month for rent, how will you save money for down payment assistance? You fall farther and farther behind regarding generational wealth because, you know, homeownership is the easiest way to build generational wealth.”

However, the Urban League’s First Time Home Buyer Program hopes to change that. For Sesch Booker, it made the impossible dream of homeownership a reality.

“I was able to secure a $40,000 grant from the Urban League, and then First Citizen Bank partnered with them and gave an additional 30k. That went towards closing costs, mortgage rate went down, and things of that nature. So, it was awesome. The money I had been saving for a down payment, because I was given that, I could put towards the remodel renovation.”

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