Tuesday, February 10, 2004

Home ownership still relatively elusive for minorities, immigrants

"Despite progress made over the last decade, the percentage of minority homeowners still lags far behind the national average."

"'Racial disparities in housing are alive and well in the United States,' said Stuart Gabriel, director of the Lusk Center for Real Estate at the University of Southern California at Los Angeles. 'It signals that something is wrong in this land of plenty.'"

"Yet the real estate industry is pinning its hope for the future on minority and immigrant buyers."

"'Immigrants typically provide an initial stimulus to rental markets for their first few years in the United States,' said Michael Carliner, an economist for the National Association of Home Builders. 'After becoming established, they become a major factor in the for-sale marketplace.'"

The Tennessean

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