Much has been said about the housing crisis and the tales of personal tragedy. After all, it’s easy to focus on the bad when there’s so much negative to go around. But with challenges also come silver linings. With despair comes compassion. With crisis comes strength and unity.

The unified strength of the 700 Hispanic, Asian and African American real estate professionals that gathered at the 2010 Multicultural Real Estate & Policy Conference in Washington, D.C. two weeks ago was undeniable. NAHREP, AREAA and NAREB members have joined forces before, but never in this way. The mood was electric. The energy was palpable. And the message was unmistakably clear: We will not let communities of color perish in this housing debacle.

From member visits to Capitol Hill and a White House briefing to the leadership forum with national figures like FDIC Chair Sheila Bair, FHA Commissioner David Stevens and Rep. Barney Frank, multicultural real estate leaders shared their concerns about the disproportionate impact to the minority community and the type of solutions needed for recovery. C-SPAN broadcast parts of the program, including Congressman Barney Frank’s response to the Five-Point Plan presented earlier by NAHREP, AREAA and NAREB leaders.

Click Here to Watch the C-SPAN Broadcast

Necessity unites. And nowhere is that more evident than in the recovery plan presented by the three groups. In a nutshell, the plan advocates:

• Expansion of CRA functions to include loan servicing and REO disposition management;
• Required face-to-face homebuyer education and household budget management training;
• Principal forgiveness for homeowners that are underwater on their mortgage and have more than 10 percent negative equity;
• Support for the continued role of the GSEs and FHA
• The creation of a consumer protection agency with robust power to drive industry reform that aligns practices with values that serve the common good.

Check it out here

This is the second time in the last three years that Hispanic, Asian and African American practitioners have collaborated on a proposal. Judging by the tenor of the meetings, it won’t be the last. What became most evident at this forum is the strength of our collective voice. “Alone we can do so little; together we can do so much,” Helen Keller once said.

How true. In peril, we have found a common purpose.

The future is sooner than we think. This year the births of minority children will outpace that of Whites. For sake of the greater common good is no longer about someone else, it’s now about the legacy we leave our children and grandchildren. Getting the housing economy back on track is about preserving and enriching minority neighborhoods for future generations. By all indicators, we have no time to waste.

About the author:
Alex Chaparro is a second generation Realtor serving Chicago land homebuyers and sellers for over 16 years. He is co-founder and past president of the NAHREP Chicago and has served on the boards of the Illinois Association of Realtors and NAHREP national. He is also the first Latino appointed to the office of president of the 124-year-old Chicago Association of Realtors.