Latino homeownership in the U.S. has increased during the past years, with research from the Hispanic Wealth Project showing that nearly half of all Latinos in the U.S. are homeowners. A new task force from the Department of Housing and Urban Development (HUD) seeks to keep on strengthening those numbers with the launching of its Latino Task Force, which aims to enhance education and economic opportunities for this demographic.
"As leaders of this Department, we have an incredible opportunity to shape how housing policies affect the Latino community across the country," said Elizabeth de Leon Bhargava, HUD's Assistant Secretary for Administration. "If we want to see a meaningful impact on policies, there need to be people at the table with the lived experience that can influence those decisions."
Research has also shown that Latino homeowners have a 27 percent higher net worth than Latino renters, making homeownership a key resource for building wealth for Hispanic families.
"Latino homeownership is about hard work, deep roots, and creating a brighter future for generations to come. It beats renting, offering endless opportunities for a prosperous and promising tomorrow," said Danny Garcia, a Chicago Metropolitan Area realtor working in majority Hispanic communities.
The Latino Task Force said it will assemble career and political staff to identify areas for improvement in HUD's policies and communications and drive new policies to create more equitable housing and economic opportunities.
Another area it will focus on to bring about economic opportunities is federal employment. According to HUD data, only 9 percent of the department's civil labor force identifies as Hispanic. Promoting Latino employment in the department would enable it to serve the Spanish-speaking community better, the department said.
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