Industry News

Hispanic home-ownership divide still wide

Industry practices create barriers, study finds

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Current industry practices create barriers to Hispanic Americans owning homes in safe neighborhoods, according to a study released during the Congressional Hispanic Caucus Institute's National Housing Initiative. And unless certain institutional business practices are changed, the Hispanic home-ownership rate, which is currently 48 percent, will continue to lag significantly behind the overall population's home-ownership rate, which is 68 percent. The National Housing Initiative is a bipartisan effort designed to increase home-ownership opportunities for Latinos across the country. The group conducted an 11-city focus group study in traditional and emerging Hispanic regions. "From the consumer to the loan officer, we all share the burden of the Hispanic home-ownership divide," said Ron Jauregui, one of three senior housing professionals participating in the NHI two-year fellowship program. "However, our message to the industry is that to effectively reach the Hispanic consumer, co...