Latinos Said to Covet Ownership

A study described as the most detailed yet on the aspirations of Hispanic Americans estimates that 2.2 million Latino households could be homeowners by the end of the decade if the housing industry's "gatekeepers" would only reach out to them.Research by the Tomas Rivera Policy Institute, a Latino-centric think tank affiliated with the University of Southern California's highly rated School of Policy, Planning and Development, found that the majority of the nation's fastest-growing population want to own the roofs over their heads but don't know how to go about it. The Latino community is "not a 'self-editing' population," said the report, which was released in Los Angeles. "They are not opting out of the housing market by choice. The majority have expressed a strong desire to buy a home." The study of 1,400 renters and recent first-time buyers in the Los Angeles, Houston, and Atlanta areas is "quite possibly the most concrete picture ever drawn of the potential Latino homeowner and the obstacles that stand in the way," said Harry Pachon, president of the Rivera Institute and a professor of public policy at USC. The study found that 11% of the renters in the three metro areas are actively involved in the homebuying process and 44% hope to buy within the next five years.