Recent U.S. Homeownership Gains Driven by Latin Americans
Based on new housing data by Zillow, Latin homeownership gains in recent years have far exceeded those of other groups. About 18% of the U.S. population identifies as Latin, yet they have accounted for more than 60% of new U.S. homeowner gains over the past decade. That growth has brought the Latin homeownership rate to 48.9%, the highest level since 2008. This growth is even more striking when considered in the context of the housing bust during the Great Recession, when Latin households took a disproportionately large blow. Less than 10% of all U.S. homes are in largely Latin communities, yet 19.4% of all homes foreclosed upon between 2007 and 2015 were in these neighborhoods. After gains in the 1990s and early 2000s, this contributed to the Latin homeownership rate falling to 44.1% in 2015 -- the lowest since 1998. "While Latin households have made recent gains in ownership, longstanding inequities in intergenerational wealth and other systemic barriers continue to impede Lat...
