The Impact of Institutional, Economic, and Social Factors for First Time Latino Home Buyers

The growing wealth disparity occurring in the United States is the result of systematic and social barriers that hinder Latinos ability to achieve and enjoy economic integration in the U.S. This study was a longitudinal qualitative study examining the structural, economic, and social facilitating factors and barriers to Latino homeownership attainment. Interviews were administered to first time Latino homebuyers attending the East Los Angeles Community Corporation homeownership workshop. Findings also examine the struggles of moderate-income earners and the impact of the relationship between individuals and financial institutions in the home buying process. Wealth allows families and their children to have a cushion against economic disasters such as the sudden loss of employment or illness. In addition, it is important that social workers are trained to provide communities and clients with better understanding of how to successfully navigate the complexities of personal finance.