Most immigrants, over time become homeowners. However, since a large number have come to this country relatively recently and because many of them begin their working careers in low-wage jobs, many do not yet own homes. The cost of housing presents a significant financial barrier for everyone, especially those earning a low wage. Yet, as a group, immigrants steadily pursue homeownership.
Financial institutions are beginning to realize the huge potential immigrants represent for the housing market. In the last few years, many have made commitments to reach out to immigrant populations. In a variety of languages, these institutions are providing immigrants with financial know-how and the skills they need to gain access to the housing market.
These efforts are beginning to pay off, as immigrants are increasingly achieving the American dream of homeownership.