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Uplifitingfamilies on their journey to achieve goals that foster their emotional, financial, and personal successes while building thriving communities.
Overall, The Chicago area has the most significant gap between White and Black homeownership of any of the nation’s largest metropolitan areas. In 2020, the homeownership rate of white households exceeded that of Black and Hispanic/Latinx households by 25-30%.
While the research on how financial programs impact the well-being of children is limited, we know that family income and cost burdens dictate housing choice and food. Young children growing up in poverty are at greater risk for adverse child experiences, and early levels of stress harm brain development and the formation of executive function skills.
The Journey forward helps limited income families both achieve financial stability and stable housing, long a part of the American Dream. Families living in underserved neighborhoods don’t have access to the financial services they need to change their future – they can’t afford professional services or don’t see a way out of their troubles or the ability to become a homeowner. They’re motivated and are working hard, but they don’t know how they can escape housing insecurity, get out of debt, or live with a budget.
The financial stability of owning a home also brings stability to neighborhoods. In a study by the National Association of Realtors, homeownership had a significant positive impact on educational achievement of youth - believed to be a result of ownership behavior by parents, that play a role in modeling positive behavior in school. Homeownership also promotes civic engagement, as homeowners are more likely to vote, volunteer and get involved in community events..
Studies have also indicated that homeownership directly impacts one of the most important factors in neighborhoods: violent crime. Lower crime rates then trigger a chain reaction that promotes improvement in other neighborhood indicators, further increasing the well-being of the community.
The Journey Forward equips potential homeowners with the necessary skill set to not only purchase their dream home, but thrive in it with their families, and use it as a wealth building tool to build intergenerational wealth so many of us enjoy.
Financial stability and homeownership can anchor a family to a community, to connections, and support that further enhances a family and community to thrive. The Journey Forward believes that to build thriving communities, we must support the families we serve. They are the bedrock of healthy and successful communities.
