Latinos comprise the largest ethnic group in the largest state of the union. Today, nearly 40 percent of all California residents are of Latino origin – a number that will only grow over the coming decades. The future of California and the future of its Latino population are one in the same. But when we look at some of the economic and political trends among California’s 14 million Latino residents, there are troubling signs for our community, and for our state’s future.
In the U.S., homeownership is considered a fundamental element of middle-class life, and can help individuals and households achieve stability and security. It is also an important wealth generator, providing a buffer against income loss or unexpected expenses, and providing an inheritable asset that can greatly impact social mobility across generations. Home equity can also be utilized for entrepreneurship, helping to bolster the economic stability of entire communities.