More than any other demographic, Hispanic homeowners were slammed by the mortgage crisis. Nearly half of the all the foreclosures in California between September 2006 and October 2009 (48%), were for Hispanic homeowners. But now, young Hispanic American families are poised to play an influential role in the housing recovery as first-time home buyers absorb excess inventory.
The economic recession, particularly the housing crisis, has hit Latino households harder than African Americans and whites, according to an analysis released by the Pew Research Center. The drop in house value has been identified as the main factor for the widening wealth gap, particularly among Latino households.
impreMedia, the leading Hispanic news and information company, announced today the results of a current tracking poll that reveals Latinos’ perspectives on achieving the American Dream and concerns with the housing market. The poll found that while there is a high degree of optimism about the idea of the American Dream, with a combined 72% of respondents saying they have already reached it or expect to reach it in their lifetime, there were serious fears about whether owning a home is part of that dream.