As more Black families begin to move into homeownership, a couple have been speaking of their joy after becoming owners of a 53-acre ranch that they will pass down to their children and grandchildren.
Rachel Rodgers, a business coach, and her husband purchased the massive ranch this week, and they took to social media to announce their recent purchase.
“We started our business on September 1, 2010. Many have witnessed our hustle -me in the front, my husband as an epic, ever-present support in the back,” Rodgers said in an interview with Because of Them We Can. “As the culmination and in celebration of the last decade of our hard work, we have purchased this 53-acre ranch.”
Over the years, the black homeownership rate has been lagging behind that of white families, and this gap has widened since the Great Recession, a report by Prosperity Now said.
It added that 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.
Experts have blamed the situation on affordability. A recent Bloomberg report said renters across the U.S. are unable to find properties they can afford as starter-home prices continue to rise.
Despite these challenges, “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, said in February.
The Rodgers can now be added to the growing list of Black homeowners, but they point out that this is only the beginning of greater things for their family.
“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.”
Rodgers further urged her fellow Blacks not to give up on their dreams despite the 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,” she said.