The W.K Kellogg Foundation in their State of the Latino Family 2014 survey, a national survey of Latinos in the United States where they took the pulse of Latino families on a wide range of topics, reveals some interesting numbers about housing. Here is what they found:
They asked those surveyed:
Do you believe the country is getting better, worse, or about same as it was five years ago in making sure affordable housing is available?
- Better 25%
- Worse 34%
- about same 36%
Do you own the home where you live in or do you rent?
- 55% said they are homeowners
How optimistic are you about the future of your finances and the opportunities that may lie ahead?
- 73% optimistic
- 25% pessimistic
70% believe it is either getting worse or is about same in making sure affordable housing is available. However, according to the Mortgage Credit Availability Index (MCAI) of the Mortgage Bankers’ Association, the reality is that it is actually getting easier every month to obtain a loan, as you can see in the graph below:
If you are part of that 70%, call a local real estate professional who can help explain the mortgage credit availability and your opportunities to buy a home.