Soaring home prices shut out Latinos from homeownership in western US
Xinhau General News Service
October 30, 2003
LOS ANGELES, Oct. 30 (Xinhua) -- Soaring home prices and sluggish growth in household income has shut out the average Latino family in Los Angeles, the second largest city in the US, from the American dream of home ownership, according to a study released Thursday.
The study, by Loyola Marymount University in Los Angeles, found Latino home ownership in Los Angeles stands at 38 percent, compared to 58 percent among whites;
"At the current time, the typical Latino family has little choice but to live in expensive and inadequate rental units," said Mara Marks, associate director of the Center for the Study for Los Angeles at Loyola Marymount University.
According to the study, nearly half of Los Angeles County's population, about 45 percent, is Latino, and the majority of children now born in California are Latino, meaning the Latino population will continue to increase in the coming years.
"If the 'American Dream' is to remain viable for this region's largest demographic group, Los Angeles County needs more housing, as well as home loans that are cheaper and of higher quality," Marks said.
The study also found that one new home is being built for every 30 Latinos who move to Los Angeles; the average Latino family spends almost half its income on housing; and Latino families tend to live in homes in poorer condition, with less square footage and with more people per room than non-Latinos.
Marks urged private, pubic and nonprofit sectors to work together to prioritize housing issues.