Chicago Treasurer Melissa Conyears-Ervin organized a daylong homebuying workshop on August 20, aiming to help city residents move from renting to owning homes. The event, titled “The Home Stretch — Your Financial Jumpstart to Owning a Home,” was the first of its kind hosted by the Treasurer’s office.
Conyears-Ervin said this initiative is part of her broader effort to address housing affordability and promote generational wealth through homeownership in Chicago. She noted that median home prices in the city have risen about 20% over the past five years, while rents have reached record highs. “The purpose for me is really to address the housing crisis that we see in our city and our neighborhoods,” she said.
Attendees at the workshop had access to certified housing counselors, mortgage-readiness coaches, and lending partners. They could also earn certificates for down-payment assistance, receive free credit score checks from TransUnion, and obtain tools for financial preparation.
Conyears-Ervin identified credit history and available funds as major barriers for many first-time buyers. “Many people do not know how to increase their credit score. They don’t even know how to begin,” she said. “People really want help and to be able to have all of these resources under one roof is a major affect. We’re looking for people to walk away with what they need to be able to purchase their own home.”
She also highlighted significant racial disparities in homeownership rates and household wealth in Chicago. According to her office, only 40% of Black households own homes compared with 77% of white households; meanwhile, the median net worth for Black households stands at $0 versus $210,000 for white households.
“Homeownership is within their reach,” Conyears-Ervin stated. “This is something that they can have access to, and everyone deserves housing.”