Flipping the Script: Why Black Families Must Keep Building Wealth Through Homeownership

By: Gary Hartfield

Let me be clear—homeownership is still one of the most powerful paths to building generational wealth. But too many families are still being left out of that opportunity.

Yes, the National Association of Realtors reports that homeownership rates have improved over the last decade—but Black individuals continue to trail behind. And while we’re seeing progress, the gaps remain. That’s why we can’t afford to take our foot off the gas.

I recently had a conversation with Frank Wiley of WTSP, and I said this:

“Baby Boomers are transitioning billions of dollars of wealth to Gen X, Gen Z, and Millennials. You’re not planning for death; you’re planning for the life of the next generation. Here’s what our family reunions look like: every year, I have a conversation with my family.”

That’s the truth. If we’re going to flip the script, we’ve got to make wealth-building part of our everyday conversations—especially with those coming behind us.

Looking at the Big Picture

Across the globe, you’ll see different trends in homeownership. In some countries, the racial wealth divide isn’t as deep. But in the U.S., systemic barriers—redlining, discrimination, access to credit—have shaped where we are. But they don’t have to define where we’re going.

We hosted Flipping the Script with The All Hart Foundation, Chase, and 101.5 The Vibe with this in mind. We brought together entrepreneurs, lenders, and experts in our community to help business owners explore methods for homeownership—even if they’re starting from the beginning.

We didn’t just talk about dreams—we talked strategy. We gave people the game. And most importantly, we reminded folks that it’s possible.

How We Keep Moving Forward

Wealth doesn’t just come from what you know—it comes from who you know and how you grow. That’s the power of social capital. Here’s how you can tap into that:

• Connect with the right rooms. Attend events and workshops where people are talking about money, ownership, and legacy.
• Build with people who’ve done it. Find mentors and advisors who understand your journey and are willing to share what they’ve learned.
• Talk to your family. Normalize conversations around credit, estate planning, and financial goals.
• Use your business as leverage. Entrepreneurs—keep your books clean. Your business can be your bridge to real estate.
• Keep learning. Knowledge is currency. From down payment assistance programs to investment strategies—keep feeding your mind.

Here’s My Challenge to You

Start with what you have. Don’t wait for everything to be perfect. Buy the duplex. Move into the starter home—Co-own with a trusted partner. Get your affairs in order and plan what happens after you’re gone.

Homeownership is more than a key to a front door—it’s a key to equity, legacy, and stability.

If we’re going to change the narrative for our community, we have to keep having the conversations and taking the action that leads to ownership and opportunity.

The door is open. Walk through it, and let’s keep flipping the script.