“When it comes to wealth, home equity and retirement accounts constitute close to two-thirds of American households’ net worth.”
Rice/Kinder Institute for Urban Research
Why we Exist
To increase African American and Minority Homeownership
We aim to improve African American Homeownership in Austin currently at 33.6%, nearly 12% lower than the National average.
We will increase diversity in Austin by providing an equitable path into homeownership for minorities.
We are tapping into the greatest opportunity, African American and minority homeownership, to infuse capital and equability into the housing system.
Bold new approaches to housing finance and investment in community development is required to get to a 60% homeownership rate for African Americans.
National Community Reinvestment Coalition
Our Mission
At Break the Box it is our mission to create bold approaches that reduce the homeownership gap by building equity and wealth ecosystems that benefit all stakeholders . Targeting minority young professionals we aim to add up to 65 new homeowners to the Austin Area yearly. Over ten years, with a goal of 1000 new homeowners, we can reduce the 20% homeownership gap in Austin by upwards of 2%. This ensures that black and brown communities, who have the largest disparities in homeownership, participate in the dynamic growth of Austin and the state of Texas.
“BTB grows young minority professionals from housing apprentices to homeowners. We inspire them to understand their feelings about money, harness that energy into homeownership, and utilize their newfound equity to build liquidity. This gives our apprentices an opportunity to increase their net wealth up to 87 times greater than renting ”
— Kobla Tetey