The Real Deal Miami

Homeownership rises for minorities

May 14, 2009 10:57AM

Minorities in the U.S. purchased homes at a faster pace than whites during the housing boom, narrowing the ownership gap even after being hit harder by the housing bust. African-Americans, Hispanics and Asians are more likely to own a home now than at any point in the past, according to a report from the Pew Hispanic Center. As of 2008, 48.9 percent of Hispanic heads of households owned a home, up from 41.9 percent in 1995. Homeownership among African-Americans rose to 47.5 percent from 42.1 percent. Homeownership among Asians rose to 59.1 percent compared to 49.1 percent in 1995. For whites, homeownership hit 74.9 percent in 2008, up from 70.5 percent in 1995.