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HUD To Promote Homeownership And Dispel Myths Concerning Debt

The regional house party is hosted by Chicago to promote homeownership, dispel myths, and amplify federal programs.

August 10, 2023

Washington- Chicago area residents are invited to the house party to close out June’s National Homeownership Month to amplify the Department of Housing and Urban Development (HUD) commitment and help more Americans to realize their dream of homeownership. The Chicago Kings of House Takeover will be joined by HUD representatives at Daley Center Plaza on June 30 from 12 p.m.- 1 pm, 50 W Washington Street.

Marcia L. Fudge, HUD’s Secretary launched a multi-year campaign named “Let’s Make Home The Goal” to generate an awareness of the availability of housing counseling by HUD-certified housing counselors. The campaign is specially designed to help the communities who have faced more difficulties while buying a home due to systemic barriers. The “Let’s Make Home The Goal” Campaign is expected to reach three million homebuyers in 13 states and other markets in the future. This event in Chicago will encourage young adults to become homeowners.

HUD’s Regional Administrator Dianne M. Shelley said, “We want to ensure that Chicagoans who wish to own a home have access to the resources and tools they need. As we wrap up National Homeownership Month, we reflect on the importance of homeownership as a tool for wealth-building and stability. HUD is dedicated to eliminating barriers and putting people on the path to homeownership.”

Secretary Fudge hosted a house party at the National Mall in Washington, D.C. at the beginning of the month. The free event was joined by individuals and families featuring live music, food, and information about housing counseling, financial education, down payment assistance, and FHA mortgage loans to assist aspiring homeowners. More such house parties will be hosted throughout the country by the HUD field and regional offices to ensure people have the essential things to start the homebuying process.

The U.S. families main source of wealth is homeownership and is important to close the wealth gap for Black, Indigenous, and persons of color communities. The homeownership rate for black Americans is 30% less than that of white Americans as per the U.S. Census data. Consequently, HUD is working on increasing the opportunities and removing barriers for first-time low-income buyers to help them attain stability and wealth-building potential.

Since the 1960s, there has been a reduction in young adult homeownership. The pattern is going to continue for several decades and will be more dramatic for African Americans. HUD plans to address myths about debt and share information on how federal programs can assist people in homeownership via house parties.

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The content provided in this article draws inspiration and includes quotes from various reputable sources, including news articles, government data, and interviews. Affordable Housing 411 strives to ensure accuracy and credibility, but the information presented may be based on some external sources. We encourage readers to refer to the referenced materials for more in-depth insights and verification.

Department of Housing and Urban Development. “HUD House Party In Chicago Spotlights “Make Home the Goal Campaign,” Empowering Pathways to Homeownership”. HUD, June 30, 2023,
HUD House Party In Chicago Spotlights “Make Home the Goal Campaign,” Empowering Pathways to Homeownership | / U.S. Department of Housing and Urban Development (HUD)

Last Updated: September 20, 2021