The transitioning nature of Hispanic renters

Abstract

In the 1980, 1990, and 2000 censuses, Hispanic households had the lowest rate of homeownership of any major ethnic group. Since 2000, however, growth in Hispanic homeownership has outpaced that of other groups. This article uses a four-stage transitional framework to examine Hispanic homeownership progression: renting without plans to buy; renting with plans to buy, but not actively saving; renting while saving for a home; and owning a home.Data from the Survey of Consumer Finances indicate that, after we control for other demographic factors, Hispanic renters are much more likely to be actively saving to buy a home than either non-Hispanic white or nonHispanic black renters. However, Hispanic households are less likely to move from the saving to the owning stage. We find evidence of three explanations for this phenomenon: informational barriers to credit, purchase of foreign homes, and recent entry into the saving stage.

On the Path to Homeownership: Low-Income Owners and Renters in Rural Communities

“…Latino families may have a more difficult time and may deal with more constraints when entering into homeownership than their non-Latino counterparts. There is little evidence to suggest that Latino families have different aspirations for homeownership (James & Atiles, 2008), so other explanations such as discrimination in the housing market or respondents' access to mortgage credit may account for this relationship. Food security was another variable that was significant across both models.…”

Examining rural, low-income families' housing trajectories over three years: A mixed methods analysis

“…Examples of market constraints are the supply of affordable housing and the availability of financing housing in the housing market. Discrimination is the last constraint that described and is an issue that has received much attention in the last two decades, especially when it comes to homeownership rates for minority populations Haurin, Herbert, & Rosenthal, 2007;James & Atiles, 2008). Morris and Winter did not specifically address health conditions and circumstances or the availability of health resources as constraints, though these characteristics may be viewed as family or market resources.…”

“…found in their study of rural, low-income mothers that there was a significant difference between owners and renters regarding the number of children they had living in the household; however, the number of children was not a significant predictor in determining housing tenure for that population. Furthermore, Vanderford, Mimura, Sweaney, and Carswell (2007) Haurin et al, 2007;James & Atiles, 2008). In the early 1990s, the Department of Housing and Urban Development undertook an initiative to increase not only low-income homeownership rates, but minority homeownership rates as well Haurin et al, 2007;James & Atiles, 2008).…”

“…Furthermore, Vanderford, Mimura, Sweaney, and Carswell (2007) Haurin et al, 2007;James & Atiles, 2008). In the early 1990s, the Department of Housing and Urban Development undertook an initiative to increase not only low-income homeownership rates, but minority homeownership rates as well Haurin et al, 2007;James & Atiles, 2008). These initiatives, coupled with more relaxed underwriting standards, were successful, especially in rural communities, in increasing homeownership among underrepresented minority populations.…”

“…Consistent with literature that has suggested there is a gap between Latino and White non-Hispanic homeownership rates, found being Latino had a negative relationship with homeownership. James and Atiles (2008) conducted a study looking at four groups of Hispanics: renting without plans to buy; renting with plans to buy, but not actively saving; renting while saving for a home; and owning a home. Compared to their White non-Hispanic and African American counterparts, Hispanic renters were more likely to be saving to buy a home.…”