Biden Praises NAREB’s Black Wealth Tour for Advancing Equity and Wealth-Building

President Joe Biden praised the National Association of Real Estate Brokers’ Black Wealth Tour, saying the organization of predominantly Black real estate professionals is helping “bring us closer to realizing the full promise of America for all Americans.”

In a letter Biden sent to the organization last month, the president said NAREB’s work “has the power to transform lives and support future generations.”

“As you celebrate this wonderful occasion, I hope you take well-deserved pride in the important role NAREB has played in uplifting communities across the country,” Biden’s letter said. “I have never been more optimistic about our nation’s future than I am today, in part because of organizations like NAREB promoting fairness and equity for all. As you look to the incredible opportunities ahead, I wish you continued success for years to come.”

The Black Wealth Tour tour, launched last fall, is a product of NAREB’s collaboration with the African American Mayors Association, Church of God in Christ, Inc., and the National Bar Association. The tour consists of events in over 100 cities that provide crucial information on topics such as homeownership, property investment, starting a business, and other wealth-building opportunities.

On April 13, more than 25,000 people celebrated NAREB’s National Building Black Wealth Day in 91 cities. Partners included the Divine Nine’s Delta Sigma Theta, Alpha Phi Alpha and Phi Beta Sigma and major sponsors include Wells Fargo and Fannie Mae.

NAREB President Courtney Johnson Rose said closing the racial wealth gap is critical for homeownership and Black wealth-building.

“With greater economic equality, studies show lower crime levels, better health outcomes, higher social trust, and less divisiveness,” she said. “Building Black wealth can contribute to a more equitable society, promote upward mobility and social equality, and foster economic stability and growth.”