Keeping a Family Home in the Family
On February 5, 1973, my grandma Marj bought a house on the Southside of Chicago. On the 50th anniversary of her purchase, I started a down-to-the-studs renovation process to build on her legacy. More than a renovation, this is a foundation for the next 50 years of our family’s story.
Photo: My Grandma
Welcome to Grandma's House
A legacy of community support, sweet potato pies, and protecting the deed.
Photo: Fellipe Ditade
Neighbor: I knew your grandma.
Me: Oh yeah, what was she like?
Neighbor: Well, I’ll tell you this: She ain’t take no s**t.
Why is Black Homeownership Revolutionary?
In Chicago, 77% of white households own homes, compared to only 55% of Latine/o/ households and 40% of Black households do (Chicago Community Trust, 2023). That’s not a gap – it’s a chasm. And it's a national crisis.
The median net worth of U.S. homeowners is $255,000, compared to just $6,300 for renters (Federal Reserve, 2020). Home equity isn’t simply about wealth, it’s about stability. In 2021, it made up 28.5% of household wealth (Census.Gov, 2023).
Homeowners also have more financial options than renters that can lead to long-term financial gains, including:
Refinancing, which allows homeowners to lower housing costs when interest rates are lower
Special tax advantages only homeowners can claim
Long-term increases in home and property values, as home values tend to increase over time
Owning a home is supposed to mean freedom, but for too many Black families, it’s been out of reach. White supremacy, redlining, and land theft were designed to keep Black wealth from growing. And now hedge funds are scooping up properties, rent is skyrocketing, and homeownership is slipping further out of reach of the people.
However, the history of economic injustice, land theft, and economic injustice in the U.S. has set Black homeowners up to fail. It used to be that owning a home was all you needed to build wealth. Now that large hedge funds are buying up properties in an effort to control the housing market, rents are skyrocketing, and interest rates are high, more and more homeownership is pulled out of the reach of the people.
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However, the history of economic injustice, land theft, and economic injustice in the U.S. has set Black homeowners up to fail. It used to be that owning a home was all you needed to build wealth. Now that large hedge funds are buying up properties in an effort to control the housing market, rents are skyrocketing, and interest rates are high, more and more homeownership is pulled out of the reach of the people. *
U.S. Homeownership Rates (2014-2023)
This home in a Black family in a Black community is precious, miraculous, rare..
My 50-Year Vision
I’m not flipping this house; I’m flipping the narrative as I start from scratch and learn how to do what my grandmother did: keep a family home in the family.
The next 12 months aren’t business as usual; it's a legacy in the making. With the help of friends, family, real estate advisors, an architect, and a general contractor, I'm turning my grandmother’s home into a lasting symbol of Black excellence and community care.
This is a not-for-profit investment in Black home ownership, designed to build a family legacy and a future worthy of Marj and the entire Southside.
Photo: Alex Mclane