Closing the Divide in the American Dream

Many American families own their home, but not everyone realizes the dream of homeownership. While more than three out of four white households own their own home, only half of minority households enjoy the benefits of homeownership.

After years of slow gains, minority homeowners are once again losing ground as a result of recent problems in the mortgage markets. While many communities have been affected regardless of race or income, lending issues disproportionately affected minorities, who were more likely to assume risky, high-cost mortgages and as a result, have been in danger of losing their homes to foreclosure. Tighter lending standards have also made it harder for many minority households to qualify for mortgages, hampering efforts to build equity and long-term wealth through homeownership.

Home Ownership Participation for Everyone

The HOPE (Home Ownership Participation for Everyone) Awards is a national industry awards program that was created in 2001 to recognize individuals and organizations that have made outstanding contributions to increasing minority homeownership, revitalizing communities and expanding affordable housing opportunities.

The HOPE Awards is sponsored by a partnership of real estate associations; awards are conferred every other year. The awards honor those who work every day to close the divide in the American dream and help make the face of homeownership in this country look more like America.

HOPE Awards Winners receive a $10,000 honorarium, and paid travel expenses to attend and speak at a daytime minority housing symposium and evening gala event in Washington, D.C.  

The next HOPE Awards will take place in May 2011.  Applications will be available in early 2010. If you would like to be notified when the application period opens, e-mail Sara Weis at sweis@realtors.org.