Pflugerville nonprofit working to increase home ownership in underserved communities

A nonprofit in Pflugerville is looking to bridge the gap in real estate ownership in Black, Latino and senior populations in Central Texas.

The Homes with Hall Foundation provides financial literacy workshops to underserved communities such as young adults and seniors to help them create financial assets that can be passed on to children and grandchildren.

"Our mission is to cultivate a wealth-building mindset, primarily in our underserved youth and seniors to create generational wealth and bridge the gap of real estate ownership by providing a living pathway to home ownership," said foundation co-founder Justine Griffith.

According to the National Association of Realtors, the homeownership rate of African-Americans in 2021 has increased less than half of 1% since 2011, from 43.6% to 44%. In comparison, the homeownership rate for Hispanics and Asian Americans is 50.6% and 62.8%, respectively. White people have a homeownership rate of 72.7%.

Co-founder Christie Hall said the key to achieving the foundation's goal is educating the community and ensuring they have access to the necessary resources. She is the owner of Homes with Hall Realty, the organization behind the nonprofit.

"The ultimate goal is to empower an underserved community so that they are well-equipped," Hall said. "How can we do that and bridge the (wealth gap)? We just want to educate on all the various avenues."

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Hall said they chose to start in Pflugerville based on the high number of underserved communities in the school district. According to the district's website, in 2022-21 African-American students made up 15.5% of its demographic, Hispanics 48.3%, Native Americans 0.2% and Asian/Pacific Islanders 8.5%.

Hall said that eventually, the foundation would also like to serve the Houston, Dallas and San Antonio areas, where the realty company also has a presence.

Griffith said the foundation has two programs, one focused on teens and young adults and the other on senior citizens based on each's population's needs and concerns.

In workshops, teens and young adults are taught financial literacy, including how to build credit and understanding financial contracts. Hall said the foundation held its first teen and young adult workshop in July, serving approximately 20 teenagers from the area during a one-week period.

Griffith said the young adults leave the workshop knowing what steps they can take to start building their generational wealth.

"In that way, our future generations are able to get a better foot in the door coming out into adulthood than some previous generations," Griffith said.

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For the senior community, the foundation helps them understand how they can invest their current wealth to continue living where they are or to change their living situation. They also learn about the process of leaving an inheritance, how the probate process works and what a trust is.

Griffith said the nonprofit hopes to collaborate with local school districts and other community organizations to reach more people.

This article originally appeared on Austin American-Statesman: Pflugerville nonprofit to increase home ownership in underserved communities