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The Week Ahead: HUD to Host Millennial, Gen Z Homeownership Event

On Tuesday, November 1, at 5:30 p.m. Central, the U.S. Department of Housing and Urban Development (HUD) will hold a virtual “HUD House Party–Let's Talk About the House!” to share information on available federal resources and bust common myths around the homebuying process. This event, hosted by HUD Secretary Marcia L. Fudge, to help encourage young adults who wish to become homeowners but feel the barriers are too steep, especially in communities of color.

“Too many young people feel discouraged and intimidated by the homebuying process and HUD is here to help,” said Secretary Fudge. “Thanks to student loan forgiveness, many young adults may have more money in their pockets and there are many resources available to help people realize the dream of homeownership. HUD and the Federal Housing Administration are dedicated to helping more young people realize their dream of becoming homebuyers and enjoying the wealth-building benefits that come with it.”

Research shows that young adult homeownership has been in decline since the 1960s. The Urban Institute predicts that this pattern will continue for the next several decades, but the decline will be even more dramatic for African Americans. Secretary Fudge plans to address myths on debt and credit, as well as share information on how federal programs can assist those who view homeownership as an impossibility.

Click here for more information on HUD’s “House Party–Let’s Talk About the House!”

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About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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