Closing the Latino Homeownership Gap: Policy Solutions for Expanding Access, Affordability, and Equity

We highlighted the progress of this initiative and the unique housing challenges facing Latinos at a recent Congressional Hispanic Caucus with congressional leaders, the Department of Housing and Urban Development (HUD), and community stakeholders. [...] And even when Latinos near the funding necessary to purchase a home, they are more likely to struggle to navigate the complex home purchasing process, identify the resources that are available to assist them, and understand how to best prepare before applying for a mortgage. [...] This includes $25 billion to fund the construction, purchase, or rehabilitation of affordable homes for low-income people; $3 billion in Community Development Block Grants for affordable housing and community infrastructure upgrades; and $1.75 billion to states and local governments to incentivize the elimination of exclusionary zoning rules. [...] Preserving Homeownership Blight, vacancy, and abandonment in markets where it costs more to build or rehabilitate a house than the property can be sold for will often lead owners to walk away, to the detriment of the homeowner and the broader community. [...] population and workforce, and their economic success is inextricably linked to the prosperity of the nation as a whole.