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When Mahi Amaha’s parents immigrated from Ethiopia to the United States during the 1970s, they saw homeownership as the path to achieving the American dream. They finally bought a home during the ’80s when interest rates were at their peak, and the terms of their loan weren’t great.
“Financially, it really put them in a bad place. And I saw that growing up,” Amaha said. “I told myself I would never buy.”
Even so, the 35-year-old ER physician-turned-investing coach and founder of Black Womxn Are Wealthy followed in her parents’ footsteps and gave homeownership a shot. She bought a home with her husband five years ago, but the couple quickly realized it wasn’t for them and ended up selling during the pandemic. They decided that they would be “renters for life.”