LAKESIDE, Calif — The dream of purchasing a home may seem like a long life goal for many people but for the Arechiga family, they made it their mission to become homeowners.
“My mom was holding the phone, my mom honestly dropped the phone on the bed super excited," homeowner Tania Arechiga said. "I was in shock, I couldn't believe you know what we were hearing,”
It’s a home for a multi-generational family, a growing trend among Hispanics.
Mauricio Perez Vasquez is with Real Team San Diego Real Estate Broker and the National Association of Hispanic Real Estate Professionals. He helped the Arechiga family buy their home.
“Multi-generational households is basically a grandparent living with their son, daughter or and even their grandchildren," he said. "It's living with your brother or your sister or your aunt, your uncle so really just pulling resources to have something to call your own.”
He tells CBS 8 that there are a couple factors contributing to the increase in Hispanic homeownership. Some of the factors include population growth, economic mobility and multi-generational households.
“In San Diego County 47% of new household formations from 2017 to 2022 were attributed to Latinos, so it's not just a nationwide trend it's also happening here in San Diego County,” Perez Vasquez said.
For the Arechiga family, it's the end of a long journey. They lost their home back in 2008 during the economic downturn and have been working hard to get back to this point.
“So we said you know what, let's not lose our dream,” Arechiga said.
To learn more information about Hispanic homeownership visit nahrep.org.
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