The Asian Real Estate Association of America (AREAA)—the largest Asian American membership organization committed to promoting sustainable homeownership opportunities in Asian American, Native Hawaiian, and Pacific Islander communities—has announced a groundbreaking strategic alliance with Wells Fargo.
They’re teaming up to address the issue of housing affordability and advance sustainable homeownership, particularly for first-time homebuyers and low to moderate-income individuals within the Asian American and Pacific Islander AAPI communities.
Recent data has shown that Asian American homeownership rates in the middle- and lower-income brackets lag significantly behind those of non-Hispanic whites with equivalent earnings, resembling rates observed in the Black and Hispanic communities.
“Owning a home is a primary driver of economic security and the cornerstone of the American Dream, yet access to affordable housing is a significant challenge in communities across the country,” said Kurt Nishimura, president of AREAA. “We appreciate Wells Fargo’s timely investment to help people achieve and sustain homeownership.”
For more information about AREAA and its mission, visit areaa.org.