ICYMI: UnidosUS Holds Roundtable Discussion in Houston to Kick Off HOME Initiative Market Launch
On Saturday, July 15, 2023, UnidosUS unveiled its HOME (Home Ownership Means Equity) initiative in Houston, Texas. UnidosUS selected Houston as one of five preliminary markets to receive focused investment to propel Latino homeownership and break down systemic barriers to access. Latinos were the only major demographic with a growing homeownership rate in both Houston and the U.S. between 2020 and 2021, making Houston an excellent choice to be part of the UnidosUS HOME initiative’s efforts to reach 4 million new Latino homeowners by 2030.
To celebrate the kick-off, UnidosUS and its Houston Affiliate the Tejano Center for Community Concerns (Tejano Center) hosted thought leaders and social advocates to share insights on the historical context, obstacles, and opportunities to create 4 million new Latino homeowners by 2030 – the HOME initiative’s ultimate goal.
Ramiro Fonseca, the Director of Outreach and Engagement for the Tejano Center, delivered welcome remarks to kick off the event. Dr. Dan Potter, Senior Director of Research at the Kinder Institute for Urban Research at Rice University, moderated the roundtable discussion. The panelists covered the policy framework and systemic change needed to create an equitable housing system and accelerate opportunities for potential Latino homeowners. The discussion featured perspectives from Laura Arce, UnidosUS Senior Vice President of Economic Initiatives; Jason P. Riveiro, Executive Director of the National Association of Hispanic Real Estate Professionals (NAHREP); Maria Vergara, Senior Vice President and Head of Diverse Segments for Wells Fargo; and Cedric LaSane, Deputy Assistant Director of Housing and Community Development Department for the City of Houston.
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“Bolstering Latino homeownership isn’t just a smart policy. The more access Latinos have to responsible, non-predatory homeownership opportunities, the more Latinos can contribute to our nation’s economy and social fabric.”
– Laura Arce, Senior Vice President for Economic Initiatives at UnidosUS
Houston was the third-highest ranking market that added the greatest number of new Latino homeowners over the last two years, adding a net total of nearly 60,000 homeowner households in the last two years. Despite these encouraging numbers, housing prices continue to skyrocket and single-family home demand is rising while inventory remains low. Furthermore, prospective Latino homeowners are still disadvantaged as they are far more likely to be debt-burdened borrowers. 23% of Hispanic applicants were denied home loans compared to just 8% of white applicants.
Tejano Center is a network of 14 programs, including hundreds of services committed to supporting the underserved communities in the Houston area by way of health equity programs, community engagement, and more. UnidosUS’s collaboration with the Tejano Center will aim to build on these promising homeownership statistics on while working to dismantle the housing inequities Latinos are faced with all across the country, starting in Houston.
