Homeownership

Blacks, Latinos Lag Behind in Homeownership: Survey

Although 69 percent of Americans own a home, that figure doesn’t reflect the reality for Blacks and Latinos, a recent survey found.

Only 49 percent of Blacks and Latinos own a home, according to a housing and financial capacity survey released last week by NeighborWorks America.

The survey notes 40 percent of those two minority groups rent their home, compared to 27 percent of the rest of Americans.

About 70 percent of those who responded to the survey said they have completed the process of buying a home. However, about 60 percent of minorities would be interested in financial classes to improve their economic situation, compared to 46 percent of other Americans.

“Regardless of whether Americans own or rent, most Americans feel positively about their own living situation, nearly half are very positive,” the survey summary stated.

The survey was conducted online by 1,000 adults, including 614 Black and Latino respondents, between April and May.

To view the full survey, to go https://bit.ly/2R7LnuV.

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