Housing Boom Aided Minorities

Publication: Wall Street Journal

Author: Miriam Jordan

05/13/2009 - Minorities in the U.S. increased their levels of homeownership at a faster clip than whites during the recent housing boom, according to a new report, and narrowed the ownership gap with the majority despite taking a bigger hit during the subsequent bust.

An analysis by the Pew Hispanic Center found that African-Americans, Hispanics and Asians in the U.S. are much more likely to own a home now than at any time in the past.

As of 2008, 48.9% of all Hispanic heads of households owned a home, up from 41.9% in 1995. During the same period, black homeownership climbed to 47.5% from 42.1%. Among Asians—who raised their homeownership level faster than any other group—59.1% owned a home last year compared with 49.1% in 1995. Homeownership among whites stood at 74.9% in 2008, up from 70.5% in 1995.

Read the full article Housing Boom Aided Minorities on the Wall Street Journal's Web site.

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