Latino Millennials' Home Ownership Key for Housing Market: Study - NBC Chicago
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Latino Millennials' Home Ownership Key for Housing Market: Study

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    Latino Millennials' Home Ownership Key for Housing Market: Study
    Joe Raedle/Getty Images, File
    A for sale sign is seen in front of a home on August 21, 2015, in Miami.

    How young Latinos navigate the expensive, tight housing market will be a major influence on the U.S. housing market in the coming years, according to a study released last month.

    NBC News reported that, between 2015 and 2025, minorities will make up three-quarters of a projected 13.6 million gain in U.S. households, with Hispanics making up a third of it on their own, according to "The State of the Nation's Housing" study by Harvard's Joint Center For Housing.

    "The fact is the majority of Latinos want to be home owners and will make up half of all new home buyers in the next 20 years. They have a central place in the housing market and finance system," said Scott Astrada, director of federal advocacy at the Center for Responsible Lending.

    Yet many of them live in places where housing prices are simply out of reach, and the recovery from the Great Recession has been slow.