AICDC creates Many Rivers Group, LLC, a Culturally Minded Real Estate Company
Homeownership is a long-term financial investment that helps build assets. It is the primary wealth-building tool for most families. According to the 2002 Fannie Mae National Housing Survey, most families believe that buying a home has a lot of potential as an investment, and the majority of homeowners say that the value of their homes has increased at least a little since they owned them. Most families that rent, especially low and moderate-income families sometimes spend half or more of their income on rent, saving almost nothing. Buying a home can be like opening a savings account – each month families accrue home equity by paying off a portion of their mortgages.
According to the Minnesota Housing Finance Agency, and the State of Minnesota Emerging Markets Homeownership Initiative, Minnesota has been a national leader in the percentage of residents who own homes. The figures show that in Minnesota there is a 78 percent homeownership rate for whites; while the homeownership rate for American Indians in the state is only 49 percent. That homeownership gap relays the message that the, “American Dream,” is only a dream and not a reality to be shared by American Indian families living in Minnesota.
To help make homeownership a reality, the American Indian Community Development Corporation of Minneapolis, created the Many Rivers Group, LLC, a culturally minded, real estate company aimed at closing that homeownership gap.
The goals of Many Rivers Group, LLC are:
- To increase homeownership opportunities for American Indian families.
- To foster the development of life skills, such as household budgeting, financial management, and home maintenance.
- To foster community development by strengthening the social and economic bonds of Native communities through increased homeownership.
Many Rivers Group, LLC is passionate about the community we serve and is able to represent individuals and families through the home buying process. What separates us from the rest is our understanding of the culturally relevant real estate tools that are available to the American Indian homebuyer. Many Rivers Group, LLC is connected with the tribes of Minnesota and Wisconsin and works hard for their urban members to realize their dreams of owning a home.
For more information, or to set up an individual meeting to talk about homeownership opportunities, please call Michael Goze at 612-813-1610, or email firstname.lastname@example.org. Many Rivers Group, LLC is Located at 1508 East Franklin Avenue, in the first floor of the Many Rivers East Apartment building.