Earlier this summer, one day before the first ever Juneteenth federal holiday in the United States, Marcia Fudge, the secretary of the Department of Housing and Urban Development, stood at a podium in Cleveland and made a bold pledge: By 2030, there will be 3 million new Black homeowners in the United States.
The initiative, called 3by30, is a project of the Black Homeownership Collaborative, a coalition committed to transforming the real estate industry, which for decades has been complicit in redlining, housing discrimination, and racially-motivated discrepancies in appraisals.
It’s a gambit that has been more than a year in the making. In May 2020, spurred by the murder of George Floyd in Minneapolis, the United States erupted in the largest racial justice protests since the Civil Rights movement. The real estate industry was quick to show its solidarity. Amid the sea of black Instagram squares that filled our timelines for