Latino Population Growth Will Require 4 Million New Homes

November 7, 2007

Latino homeownership in California trails the nation, and, in order to adequately meet the needs of the state’s fastest growing ethnic community, roughly 4 million homes must be built in the coming decades, according to a new study by the California Building Industry Association (CBIA), and the California Homebuilding Foundation (CHF).

"Latino Californians understand the importance of homeownership to their families and their long-term economic prosperity," said Robert Rivinius, CBIA president and CEO. "California will grow by over 14 million people by 2030, and nearly 80 percent will be Latino. To meet the demand, California must produce 4 million homes and apartments. Right now, we’re not even close."

The study shows an overwhelming majority of non-home owning Latinos would like to own their own homes. Latino Californians support environmental protection laws, but want to see increased production of well-planned housing; they overwhelmingly believe home builder and home buyer government fees need to be lowered to increase affordability; and Latino Californians strongly support government sponsored programs for homeownership for low-income families, but oppose inclusionary zoning policy, according to the study.

source: C.A.R.

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