Event to Help and Dispel Common Myths in Homebuying, Amplify Federal Homebuying Programs
WASHINGTON – The U.S. Department of Housing and Urban Development’s (HUD) Secretary Marcia L. Fudge will hold a virtual ‘House Party’ to share information on available federal resources and bust common myths around the home buying process. This event is to help encourage young adults who wish to become homeowners but feel the barriers are too steep, especially in communities of color.
“Too many young people feel discouraged and intimidated by the homebuying process, and HUD is here to help,” said Secretary Fudge. “Thanks to student loan forgiveness, many young adults may have more money in their pockets, and many resources are available to help people realize the dream of homeownership. HUD and the Federal Housing Administration are dedicated to helping more young people realize their dream of becoming homebuyers and enjoying the wealth-building benefits that come with it.”
Research shows that young adult homeownership has been in decline since the 1960s. The Urban Institute predicts that this pattern will continue for several decades, but the decline will be even more dramatic for African Americans. Secretary Fudge plans to address myths on debt and credit and share information on how federal programs can assist those who view homeownership as an impossibility.
The ‘party’ takes place on November 1 at 6:30 p.m. ET. To register for this event, please visit hud.gov/hudhousepartyregistration.
