Hispanic Home-Ownership at Lowest Level in Years

Rate drops to lowest level since 1999 Texas Insider Report: WASHINGTON D.C. Even as Hispanics grow their incomes and make up a larger share of the economy they appear to be falling behind in that dream of home ownership. This comes even as Washington assures us that reforms such as Dodd-Frank will curb the large banks and help working Americans. It doesnt seem to be working said Daniel Garza Executive Director of The LIBRE Initiative.    According to a new report by the National Association of Hispanic Real Estate Professionals (NAHREP) the Hispanic home ownership rate has dropped to its lowest level since 1999 even as 320000 new Hispanic households were formed during the year. The NAHREP reports that although Hispanic home ownership had grown rapidly from 1995 to 2004  outpacing the national average by a margin of 7 to 5  the numbers are more discouraging in recent years. In 2012 for example the number of homes owned by Hispanics increased by nearly 350000 but in 2014 it grew by just 54000. Tight credit and high fees are among the reasons cited by Hispanic realtors for this deterioration which comes at a time when Latinos are otherwise gaining influence in the U.S. Economy.

Like other Americans Hispanics want to live the American Dream. For many owning a home is an important part of the dream says Garza. We need to ensure that Latinos and others are free to build better futures and pursue their dreams as they advance in the free market. Its time to look at the root causes of this worrisome trend and determine how to ensure people are free to get ahead.

The Libre Institute pointed to the NAHREP Report to highlight the issue as a subject that is impacting the lives of millions of families.