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Draft:National Association of Hispanic Real Estate Professionals

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National Association of Hispanic Real Estate Professionals (NAHREP) is a non-profit and non-partisan trade association that engages in policy advocacy.[1][2][3]

History

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NAHREP was co-founded by Gary Acosta and Ernie Reyes (1941-2014) in 1999 in San Diego., CA.[1][3][4]

On November 18-20, 2001, NAHREP hosted the Hispanic Marketing Conference in San Diego, honoring the following personalities for their contribution to Hispanic homeownership, Henry G. Cisneros, Former Secretary of Housing and Urban Development (HUD) and Chief Executive Officer of American City Vista; Richard A. Mendenhall, the 2001 president for the National Association of Realtors(R) (NAR); Jamie S. Gorelick, Vice Chair of Fannie Mae; and Jim J. Park, Managing Director of Housing & Industry Outreach, Freddie Mac.[5]

The organization produces a one-man theatrical production, 53 Million and One, starring NAHREP Board Member Gerardo "Jerry" Ascencio chronicling the immigration experience in America. The presentation debuted at NAHREP's 2014 National Convention and Latino Music Festival.[1][6]

Organizational structure

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NAHREP is structured as a nationwide network of local chapters split into six national regions, advised by a Board of Directors and a Corporate Board of Governors. It consists of a network of over 40,000 real estate professionals and over 100 chapters across the U.S. and Puerto Rico.[7] Its chapters[8] are responsible for organizing educational seminars, network events, and galas for local members that promote the mission of NAHREP.

Government advocacy and activity

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NAHREP also engages in policy advocacy across the state, local, and federal levels to advance sustainable homeownership and wealth creation for Latinos.

In March 2011, NAHREP, along with two other organizations representing multicultural real estate professionals, the National Association of Real Estate Brokers (NAREB) and the Asian Real Estate Association of America (AREAA), convened at the Multicultural Real Estate & Policy Conference in Washington, D.C., to discuss regulatory and policy changes to preserve access to homeownership for people of color. As a result of that meeting, the organizations issued a joint report entitled The Five Point Plan: Refocusing the Future of Minority Homeownership.[9]

In 2015, NAHREP unveiled a plan to triple Latino wealth over the next 10 years through its Hispanic Wealth Project. The Federal Reserve Bank of St. Louis predicted that Latino wealth could grow by $2 trillion in the next 10 years, with projected gains in population if there's an environment fostering wealth in the community.[10] In 2016, NAHREP announced that its then-director of research Alejandro Becerra was appointed to the U.S. Department of Housing and Urban Development (HUD) 's first-ever Housing Counseling Federal Advisory Committee.[11] HUD states that the committee, consisting of 12 individuals representing mortgage, real estate, consumer, and housing sectors, will serve to "improve the efforts to provide consumers with the knowledge they need to make informed and lasting housing decisions."

During the COVID-19 pandemic, NAHREP's National Policy team advocated for additional relief for small businesses and Latino families.

Publications

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State of Hispanic Wealth Report

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According to the 2021 State Hispanic Wealth Report by Nahrep and Hispanic Wealth Project, 60% of Latinos have lower odds of receiving loan approval.[12][4][13]

National Association of Hispanic Real Estate Professional Report

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According to an annual report by the National Association of Hispanic Real Estate Professionals, 8.8 million homes are owned by Latinos more than two decades later. The latest American Community Survey by the U.S. Census Bureau in Dallas County advocates that nearly a third of homeowners are Hispanic.[14][15]

The National Association of Hispanic Real Estate Professionals stated that Hispanic homeownership was 48.4% in 2021. Since 2014, Latinos have added 657,000 owner households.[16] More and more Latinxs are buying and investing in property, with more than eight million Latinx new homeowners contributing $371 billion to the national gross domestic product.[17]

Associated organizations

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HIspanic Wealth Project

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NAHREP founded the Hispanic Wealth Project, a non-profit whose mission is to financially and educationally empower the Hispanic community in America.

L'ATTITUDE

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NAHREP CEO and Co-founder Gary Acosta[18] co-launched L'ATTITUDE in 2018 with business executive Sol Trujillo.[19] L'ATTITUDE is a business-based national initiative focused on helping enlightened executives understand The New Mainstream Economy and the U.S. Latino cohort driving it.[20]

In 2019, internationally acclaimed producer, director, entrepreneur, and author Emilio Estefan joined Trujillo and Acosta as a partner in L'ATTITUDE.

In 2022, L'ATTITUDE's main stage participants included former President Barack Obama, who spoke about the wealth gap in the U.S., and Lin Manuel Miranda, who stated, "starting a small business is like composing a musical." In its fifth year, L'ATTITUDE 2022 had more than 125 speakers, including Gloria Estefan and Sen. Alex Padilla of California, and presidents and CEOs of top companies, such as NIKE, Bank of America, Sony Pictures, Target, and Nielsen.[21]

Terner Center for Housing Innovation

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The Terner Center for Housing Innovation at UC Berkeley partnered with NAHREP to survey its membership, a group of housing providers, primarily small businesses serving as few as 20 residents.[22][23][24]

References

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  1. ^ a b c Acosta, Gary (December 11, 2019). "Gary Acosta: The Story Behind L'ATTITUDE". Hispanic Executive. Retrieved February 13, 2023.
  2. ^ "About". NAHREP. Retrieved February 13, 2023.
  3. ^ a b Hall, Phil (April 17, 2020). "Housing and civil rights coalition demands federal liquidity facility for servicers". HousingWire. Retrieved February 13, 2023.
  4. ^ a b Trapasso, Clare (March 16, 2022). "Why Hispanic Buyers Are Struggling To Become Homeowners". Real Estate News & Insights | realtor.com®. Retrieved July 21, 2023.
  5. ^ "Untitled12". www.laprensa-sandiego.org. Retrieved February 13, 2023.
  6. ^ "53 Million & One". MotorTrend. October 21, 2015. Retrieved February 13, 2023.
  7. ^ "Anywhere-Affiliated Agents Again Lead NAHREP Top 250 Latino Agents Report". finance.yahoo.com. Retrieved February 13, 2023.
  8. ^ Mize, Richard. "National Association of Hispanic Real Estate Professionals Oklahoma chapter is formed". The Oklahoman. Retrieved February 13, 2023.
  9. ^ "Minority Real Estate Leaders AREAA, NAHREP, NAREB Say Government Efforts Are Failing to Meet the Needs of Multicultural Homebuyers". www.businesswire.com. March 15, 2011. Retrieved February 13, 2023.
  10. ^ "A Plan to Increase Latino Wealth by $2 Trillion". RISMedia. May 23, 2016. Retrieved February 13, 2023.
  11. ^ "NAHREP Director of Research, Alejandro Becerra, Appointed to HUD's Housing Counseling Federal Advisory Committee". RISMedia. June 6, 2016. Retrieved February 13, 2023.
  12. ^ Colón, Brisa (October 7, 2022). "Latino Community Foundation gives $1 million to Latino Organizations in CA". KSBW. Retrieved July 21, 2023.
  13. ^ "'I'm so thankful': Hispanic family describes buying first home in Las Vegas valley". KLAS. March 4, 2021. Retrieved July 21, 2023.
  14. ^ "Latino homeownership gaining ground in Las Vegas". KLAS. February 22, 2022. Retrieved July 21, 2023.
  15. ^ Peña-Calderon, Mirtle. "Study finds that Latinos will lead future homeownership market". People en Español (in Spanish). Retrieved July 21, 2023.
  16. ^ Briones, Alejandra (October 6, 2022). "Oklahoma expert explains difficulties members of Hispanic community face in home-buying process". KOCO. Retrieved July 21, 2023.
  17. ^ Ferreira, Johanna (August 23, 2021). "Amara La Negra Wants to Encourage This Generation of Latinxs to Build Generational Wealth". Popsugar. Retrieved July 21, 2023.
  18. ^ Mercado, Darla (October 19, 2022). "Multigenerational Hispanic households are under pressure as rates surge and homes remain costly". CNBC. Retrieved February 13, 2023.
  19. ^ "Are Young Latinos The Key To A 'New' American Economy? These Leaders Say Yes". Miami Herald.
  20. ^ "America's New Mainstream Economy to Be Introduced at L'ATTITUDE". markets.businessinsider.com. Retrieved February 13, 2023.
  21. ^ Stone, Ken (September 15, 2022). "Barack Obama to Take San Diego Stage at 5th Annual L'ATTITUDE Latino Talkfest". Times of San Diego. Retrieved February 13, 2023.
  22. ^ Valdez, Roger. "Housing Providers Face Disaster Without Help Soon From Congress". Forbes. Retrieved February 13, 2023.
  23. ^ Hepler, Lauren (May 2, 2021). "The Bay Area is losing Latino homeowners. Where are they going?". San Francisco Chronicle. Retrieved February 13, 2023.
  24. ^ O'Donnell, Katy. "The flip side of Trump's eviction ban: Landlords face big crunch". POLITICO. Retrieved February 13, 2023.
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