HOUSTON, Oct. 6, 2023—Historically, people of color—including Black, Hispanic, Indigenous, and Asian communities—have faced challenges and systemic racial barriers during the homebuying process due to minimal access to resources, tools, and financial education that will successfully empower them to purchase a home. Own the HOU, a new initiative designed to help people of color overcome these challenges, launched across Houston and Harris County today.
Led by the Houston office of Local Initiatives Support Corporation (LISC) and funded by Wells Fargo’s Wealth Opportunities Restored through Homeownership (WORTH) initiative, Own the HOU is comprised of a robust team of ten nonprofit and government housing experts that will work together to address people of color homeownership gap.
“Limited access to essential resources and tools has hindered the path to homeownership for people of color. This transformative initiative marks the commitment to empower and uplift people of color,” said Mayor Sylvester Turner. “With Own the HOU, we stride together towards a more inclusive and equitable future, ensuring every individual can successfully own a home in our city.”
As one of the first steps in supporting the long-term mission to close the homeownership gap, the new Own the HOU website is now live. The site is designed to help connect new or existing homeowners to local resources and organizations based on their needs. It also includes the ability to search and sign up for HUD-certified homebuyer education courses offered in Houston and Harris County, as well as provides essential information and tips about the homebuying process.
“Today, we take a significant step towards helping communities of color level the playing field when it comes to homeownership,” said Harris County Commissioner Rodney Ellis. “Together, we can build a stronger and more equitable future by helping to provide an opportunity for Harris County's residents to build generational wealth through homeownership.”
Through collective efforts from the nonprofit and housing experts, Own the HOU will also work on several key strategies to address systemic barriers impacting homeownership for people of color, including educational outreach campaigns, research and advocacy for innovations in traditional homebuilding to reduce construction costs, and increase access to affordable mortgage products.
“Whether it’s through providing guidance and coaching to prospective homebuyers, improving access to credit and mortgages, or even exploring innovative ways homes are built to making owning a home more affordable, Own the HOU is dedicated to supporting people of color across Houston and Harris County find their path to homeownership,” said Laura Jaramillo, Executive Director of LISC Houston. “We are committed to serving as the trusted resource to empower people of color as they navigate the homebuying process and also preserve their homes.”
“We are proud to see LISC’s work with the WORTH initiative continue to make tremendous progress,” said Region Bank Executive Tom DeBesse from Wells Fargo. “Homeownership is a critical pathway to cultivating lasting legacies, allowing families to grow wealth across generations. Own the HOU will serve as a valuable tool to help individuals and families in our communities work towards this goal.”
About Own the HOU
Own the HOU is an initiative designed to close the homeownership gap for people of color in Houston and Harris County. By 2025, Own the HOU aims to empower 5,000 new households to achieve homeownership while supporting existing homeowners to preserve their homes. LISC Houston serves as the lead convener of Own the HOU with the support of Wells Fargo's WORTH initiative and the Harris County Homeownership Collaborative (HCHC). Members of the HCHC include Avenue CDC, City of Houston Housing & Community Development Department, Houston Community Land Trust, Connective, Fifth Ward Community Redevelopment Corporation, Harris County Community Services Department, Houston Habitat for Humanity, Tejano Center for Community Concerns, and Texas State Affordable Housing Corporation. For more information, visit www.ownthehou.org.
About LISC
LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. For 34 years, LISC has invested more than $563 million in Houston communities, leveraging an additional $1.5 billion. This investment has created more than 10,000 affordable homes and apartments and 2 million square feet of commercial, community and educational space, as well as helped thousands of people improve their financial health and strengthen their neighborhoods. For more information, visit www.lisc.org/houston.
Media Contacts:
Jennifer Jordan, Elmore
jenniferj@elmorepr.com / 713-204-1183
Clare Boulet, LISC Houston
cboulet@lisc.org / 713-597-6843