The Innovation Series seeks to inform, inspire, challenge, and activate cross sector innovation to advance economic equity in Detroit and the region. Following the robust engagement that informed the development of the State of Economic Equity in Detroit report, the series will be centered on creating an economically equitable Detroit and region where residents can meet their unique needs, and fully and fairly participate in all aspects of economic life.
In honor of National Homeownership Month, DFC hosted an Equity Innovation Series event with a keynote address from Majora Carter, and a dynamic panel discussion!
This virtual event introduced data from Detroit Future City to provide a better understanding of where there is market activity and where there is not, along with data that highlights challenges and opportunities for Detroit neighborhoods. Through dialogue with national and local strategists this webinar uplifted the important role homeownership plays in building resilient communities, highlighted opportunities to strengthen Detroit homeownership demand, and inspired action to grow homeownership in Detroit neighborhoods.
As Detroit continues to work toward achieving economic equity, addressing homeownership rates will be a critical component. To do this we must provide better access to one of the primary pathways to homeownership, the home purchase mortgage.
During this event, DFC shared current trends, challenges, and solutions in Detroit’s home purchase lending followed by a moderated discussion with a panel of experts that shared insights from their work and from the lived experiences Detroit home buyers.
Since 2010, Detroit has seen little to no growth in its middle-class, resulting in one of the lowest shares of middle-class households in the country. As Detroit works towards a more economically equitable future, it is important to grow and retain Detroit’s African American middle class.
The Center team participated in a discussion on why growing and retaining the African American middle class in Detroit is an indication of economic equity and hear from local and national leaders that will share innovative examples of approaches to growing middle class neighborhoods.