Big Gap In Latino Home Ownership: New Study

*The salient statistic in this report is that 4 million Latinos say they want to own a home, but only 1.4 millon can afford one. VL

By Maria Eugenia Alcón, NBC News

Bienvenido a mi casa – welcome to my home. Those are cherished words for the many Latinos who hope that their American Dream will include buying their own house. Yet there is a big gap between the growing number of Hispanic households and their ability to purchase their own home, a new study finds.

Nearly four million Latinos would like to be home owners in the next five years, but only 1.5 million can afford it, according to a new study by The Demand Institute, a non-profit think tank operated by The Conference Board and Nielsen. The study found a gap of 2.5 million Latinos who struggle to be able to achieve home ownership; less than one-in-five who would like to purchase a home have the access and the means to do so.

Hispanics will account for nearly four out of 10 new households between now and 2020, more than any other racial or ethnic group.

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