Episode 32

Building Generational Wealth through Real Estate Dough Bess Podcast

Published on: 20th September, 2024

Why Homeownership Matters for Generational Wealth

Owning a home is a key step toward building Generational Wealth. Real estate provides several long-term benefits:

• Physiological Needs: Homeownership fulfills basic needs for shelter and stability.

• Safety and Security: A home offers job security, personal safety, and financial stability.

• Love and Belonging: It fosters family relationships, creates a sense of belonging, and provides a secure environment for future generations.

• Self-Actualization: Achieving homeownership represents living the American dream, as it empowers individuals to take control of their financial future and build equity.


Homeownership directly ties into Maslow’s Hierarchy of Needs, providing both basic and higher-level psychological fulfillment, from safety to self-actualization.


Helping Disadvantaged Communities: A Black Mortgage Professional’s Role


When a Black mortgage professional is perceived to be “pro-Black” for helping disadvantaged homebuyers, it’s essential to understand the difference between promoting equity and exclusion. By assisting historically marginalized communities, these professionals work to close the wealth gap created by systemic practices like redlining, focusing on ensuring everyone has an equal opportunity to own a home.


1. Addressing Historical Discrimination:


Black mortgage professionals help correct the historical injustices of redlining by supporting disadvantaged buyers who have been systematically denied homeownership.


2. Promoting Equity, Not Exclusion:


Focusing on helping disadvantaged communities is about leveling the playing field, not excluding others. Equity is about ensuring all individuals receive the support they need based on their circumstances.


3. Empowering the Disadvantaged:


Programs and services aimed at helping Black homebuyers empower families to achieve financial stability and homeownership, helping to reverse the effects of redlining.


4. Correcting the Effects of Redlining:


The legacy of redlining continues to affect Black communities today, and Black mortgage professionals play a critical role in providing access to homeownership opportunities and promoting economic mobility.


Tune into the Dough Bess Podcast Show


Want to learn more about building generational wealth through real estate? Tune into the Dough Bess Podcast Show on Friday, September 20, 2024, at 7:45 PM, where special guest Mar shawn Govan from MKG Enterprises Corp will discuss how first-time homebuyers in Fresno, California, can start their journey toward homeownership and financial success.


Conclusion


The Fresno DMA real estate market, shaped by the history of redlining and evolving federal policies, presents both challenges and opportunities for homebuyers. By promoting generational wealth through real estate and addressing systemic inequalities, mortgage professionals like Marshawn Govan are helping disadvantaged communities achieve financial stability and homeownership.


MKG Enterprises Corp is dedicated to monitoring market trends and offering the best rates to support your homeownership journey. Visit www.mkgenterprisescorp.com to check your rates and start building a secure future for you and your family.

Apply today

https://www.mkgenterprisescorp.com/

All Episodes Previous Episode
Show artwork for Mortgage Broker Advisors Podcast

About the Podcast

Mortgage Broker Advisors Podcast
Borrower Save Money Using A Broker
Home equity has proven to be one of the strongest ways for families to build and pass on intergenerational wealth and MKG Enterprises Corp Mortgage Brokerage NLMS 1370394 is committed to guiding clients through the mortgage process while promoting equal and fair access to homeownership.
Support This Show

About your host

Profile picture for Marshawn Govan

Marshawn Govan

MKG Enterprises Corp Third-Party Originator NLMS 1370394 is a diversified digital finance company focusing on serving low-income and moderate income communities while promoting equal and fair access to homeownership to first-time home buyers and existing homeowners FHA, Conventional, VA, Jumbo loans, Non Qualified Mortgage loans, DSCR.

The company provides mortgage loans, down payment assistance, life insurance, mortgage insurance, and tax refund advances. The goal is to help underprivileged and underbanked families achieve home ownership. Home equity is the most powerful way to build generational wealth because you can use those funds to increase your wealth and pass it down to your descendants.