Latino homeowners getting ahead, blacks not so much



Latino homeowners getting ahead, blacks not so much

The homeownership rates for black and brown families in Portland are moving in the opposite direction, with the African-American home purchase rate falling since 1970

It took 19 years of salting away money for a down payment, plus help from her familia, for Jenny Soriano to buy her own home in Hillsboro. That enabled the former waitress, an immigrant from Mexico City, to reunite under the same roof with her three adult children, plus their partners and two grandchildren.

"My culture likes all family together," said Soriano, 48.

More and more Latino families here are achieving the American dream of homeownership. But that's in sharp contrast to African-American families, who are moving in the opposite direction.

New Census Bureau data released in December showed an estimated 35.5 percent of Portland's Hispanic households owned their homes in 2017, compared to only 28.4 percent of African-Americans. That prompted Portland housing expert Tom Cusack to look deeper into longer-term trends, and he found the share of Hispanic households owning homes in Portland has grown nearly 17 percent since 2000, while dropping more than 25 percent for African-American households.

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