APPROVED AS TO FORM AND LEGALITY
_____________________
______
CITY ATTORNEY’S OFFICE
OAK
LAND CITY COUNCIL
RESOLUTION NO. ______________ C.M.S.
INTRO
DUCED BY COUNCILMEMBER ROWENA BROWN AND
COUNCILMEMBER UNGER
RESO
LUTION RECOGNIZING JUNE 2026 AS NATIONAL
HOMEOWNERSHIP MONTH AND THE SIGNIFICANCE OF
DECLINING HOMEOWNERSHIP IN THE CITY OF OAKLAND
WHE
REAS, June is recognized as National Homeownership Month, a time to celebrate the value of homeownership as a cornerstone of stable families and strong communities; and WHE
REAS, homeownership has long been considered a fundamental element of the American Dream, providing families with financial security, stability, civic rootedness, and a means of building equity and intergenerational wealth; and WHE
REAS, according to the U.S. Census Bureau, Oakland's homeownership rate has declined significantly over recent decades, with renters now comprising approximately 59% of Oakland households, leaving fewer than 41% of residents as homeowners — well below the national homeownership rate of approximately 66%; and
WHE
REAS, the decline in homeownership in Oakland is driven by a complex set of factors including rapidly rising cost of living, displacement of long- term residents, insufficient housing supply, stagnant wages, restrictive lending practices, and the legacy of discri minatory policies such as redlining that stripped wealth- building opportunities from communities of color for generations; and
WHE
REAS, Black homeownership in Oakland has been disproportionately impacted, declining sharply as a result of historical exclusion from mortgage markets, the predatory lending practices of the 2000s that targeted communities of color and contributed to mass forecl osures, and ongoing displacement driven by gentrification and rising property values; and WHE
REAS, declining homeownership has deep consequences for Oakland residents and the city as a whole, including reduced household wealth and economic security, increased vulnerability to eviction and displacement, the erosion of neighborhood stability, the loss of long- term community members and cultural anchors, and diminished civic engagement and investment in local schools and public spaces; and
WHE
REAS, the median home price in Oakland has risen dramatically, placing homeownership out of reach for many working- and middle-class families; the gap between home prices and what Oakland residents can afford has widened significantly, particularly for first-time homebuyers who lack access to existing equity or family wealth; and WHE
REAS, the City of Oakland has taken steps to support homeownership through programs including down payment assistance, first-time homebuyer education, anti-displacement initiatives, and community land trust partnerships, yet demand for these resources far exceeds available funding and capacity; and
WHE
REAS, community land trusts, shared equity models, and permanently affordable homeownership programs offer promising pathways to expand homeownership opportunities and protect existing homeowners from displacement, and deserve continued and expanded public investment and support; and
WHE
REAS, National Homeownership Month offers an important opportunity for the City of Oakland to reaffirm its commitment to equitable homeownership, to acknowledge the systemic
2 barriers that have prevented too many Oakland residents — especially residents of color — from achieving and sustaining homeownership, and to strengthen policies and investments that expand access; now therefore, be it
RESOLVED: That the City of Oakland recognizes June 2026 as National Homeownership Month and acknowledges the urgent significance of declining homeownership rates in Oakland, particularly among communities of color, as a matter of economic equity, neighborhood stability, and community well-being; and be it further
FURTHER RESOLVED: That the City of Oakland reaffirms its commitment to expanding equitable homeownership opportunities for all Oakland residents, addressing the root causes of displacement, and investing in programs that make homeownership accessible and sustainable for working families, first-time buyers, and historically underserved communities; and be it further
FURTHER RESOLVED: That the City of Oakland calls upon state and federal partners to increase funding for affordable homeownership programs, strengthen consumer protections for prospective homebuyers, and address the systemic and historical inequities in housing policy that continue to shape homeownership outcomes in Oakland and across the nation.
IN COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - BROWN, FIFE, GALLO, HOUSTON, RAMACHANDRAN, UNGER, WANG, AND
PRESIDENT JENKINS
NOES –
ABSENT –
ABSTENTION –
ATTEST:
ASHA REED
City Clerk and Clerk of the Council of the
City of Oakland, California
3471018 / BXS
homeownership programs offer promising pathways to expand homeownership opportunities and protect existing homeowners from displacement, and deserve continued and expanded public investment and support; and
WHEREAS, National Homeownership Month offers an important opportunity for the City of Oakland to reaffirm its commitment to equitable homeownership, to acknowledge the systemic