Real Estate Survey Reveals Ethnic Groups Hold High Hopes for Next Generation of Homeowners

Regardless of ethnic background, a poll by Better Homes and Gardens reveals that Americans cherish homeownership and are optimistic about what the next generation can achieve in this respect. Based on responses from 400 white, 400 black, and 400 Hispanic survey-takers, the results indicate that all three groups value homeownership and hold it up as a status symbol. Additionally, 78 percent of Latinos, 74 percent of African Americans, and 56 percent of Caucasians expect that today’s children will enter the ownership market earlier than the age at which they did. Even so, homeownership levels are falling among minorities — in part due to discriminatory lending that has led to a high level of foreclosure. “These communities have made great strides in economic achievement,” according to senior attorney Norma P. Garcia of Consumers Union. “Now, they are losing it all.” | Read More