For many segments of the population, home ownership is as elusive as ever. A recent report by the National Association of Realtors found that 26 percent of homebuyers are first-time buyers, and of this group, an overwhelming majority – 88 percent – are white.Â
The problem is exacerbated in certain markets, such as the San Francisco Bay Area, where housing costs are among the highest in the nation and many people can only afford to rent.
The issue is a personal one to Niles Lichtenstein, who grew up watching his single immigrant mother rent out rooms in their home in Berkeley in order to afford to pay the bills. Fueled by the belief that home ownership can help provide financial security, Lichtenstein has remained passionate about giving people the opportunity to own properties. Recognizing that …
