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NEWS IN BRIEF

A New High in Latino Homeownership Reported

April 28, 2002

Homeownership among Latinos surged during the economic boom of the 1990s, according to U.S. Census figures that also show differences in living patterns among Latino groups.

Recently released 2000 census data show that Cubans are more likely than Mexicans to own their own homes, while Puerto Ricans are much more likely to rent rather than buy.

More flexible lending practices and the good economy helped boost the homeownership rate for Latinos overall to a new high, though it still lags far behind the national average for all people.

The Latino rate grew from 42% in 1990 to 46%. Overall, 66% of all American homes were owned in 2000, up from 64% a decade earlier.

By comparison, 46% of homes headed by blacks in 2000 were owned, along with 53% of Asian homes and 72% of white homes.

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