For the first time in decades, homeownership numbers for black and Hispanic people living in the U.S. are going in different directions.
The Wall Street Journal reported black homeownership across the country fell to a record low in the first quarter of 2019, according to census data – a drop of 8.6 percentage points since the all-time high in 2004.
At the same time, Hispanic homeownership is growing faster than any other ethnic group in the U.S., including whites. The rate has grown 3.3 percentage points since hitting a record low in 2015.
Overseas buyers are also coming to the U.S. less and less. A new report shows the number of U.S. homes bought by foreigners has been cut in half over the last two years – leaving luxury homes in California, New York City and Miami empty.
Larry sits down with a reporter, housing expert, and local real estate broker to talk about what these numbers mean for Southern California.
Richard Green, housing policy expert; director of Lusk Center for Real Estate Chair at USC; former senior advisor at the Department of Housing and Urban Development under the Obama administration
Ashley Thomas III, national third vice president of the National Association of Real Estate Brokers (NAREB), the nation’s oldest black real estate trade association; real estate broker in South L.A.