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Hispanic households grow, accounting for more than half of new homeowners

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The Urban Institute predicts that Hispanics will account for more than half of all new homeowners over the next several years and 56 percent of all new homeowners by 2030. The states and territories with the highest homeownership rates of Hispanics include Puerto Rico (68.56 percent), New mexico (65.5 percent), Texas (56.86 percent), Wyoming (56.63 percent), and Michigan (56.13 percent).

Although most households have positive nonhousing equity, on average, the mean value of nonhousing equity is at least four times greater for white households than for black or Hispanic households–and the ratio is far more dramatic when looking at median values. Thus, the sizable difference in net worth appears to result largely from.

Litigation costs mount at BofA, Chase over foreclosure, mortgage issues Take the latest, and largest, mortgage settlement. Bank of America has agreed to a $16.65 billion deal with federal and state authorities. The actual financial burden for Bank of America, however, may not exceed $12 billion – certainly a large amount, but one significantly less than the number the government trumpets.

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