Coronavirus Threatens Latino Homeownership, Diaz Says

A new Politico article included comments from Sonja Diaz, director of the Latino Policy and Politics Initiative, about the financial impact the pandemic is having on racial minorities and renters. Congressional relief has allowed homeowners to delay payments on federally guaranteed mortgages, but renters are much more vulnerable. Struggling tenants whose jobs have been wiped out and are unable to keep up on rent will face eviction as well as a major hit to their credit scores, hurting their ability to build wealth for years to come. “Latinos were the hardest hit of any racial ethnic group in terms of wealth loss during the Great Recession,” Diaz said. “Over the course of the last five years, Latinos have had targeted increases in their share of homeownership in the United States and in fact have been instrumental in increasing the national share of homeownership, [but] any recession associated with the coronavirus threatens that.”

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