Market Solutions

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Facilitate better market intelligence, identify and expand on available financial and technical resources, and address market gaps. Convergence Memphis will improve awareness around the availability of affordable products and programs for potential homebuyers and provide education to housing professionals (including real estate, counselors, and lenders) and consumers. Specifically: 

• Look at real estate commission issues (and other external forces as necessary).
• Education and training for industry professionals.
  • Ensure the professionals are aware and equipped to tackle racial equity challenges in the market.
  • Direct partnership with housing counseling agencies, CDCs, and CDFIs.
• Develop a toolkit and resource set with financing solutions for small, nonprofit, and minority developers in the community. 

Develop and maintain Home901.org as a hub to fill the information gap:

• Loan products available.
• Subsidy programs are available on both the supply and demand side.
  • Incentives for developers.
  • Assistance programs for homebuyers.
• Information about homebuyer education and counseling.
• Resources to maintain and sustain homeownership (ex. repair, estate planning, leveraging equity).
• Resources for renters (tenant assistance, right to counsel, eviction prevention, renter counseling).