Elle M R's Senior Project Blog

Project Title: Finding the American Dream: Pathways to home ownership for socioeconomic disadvantaged populations BASIS Advisor: Juan Padres Internship Location: Family Housing Resources Onsite Mentor: Nicolas Pereira

Project Abstract

Within the current housing market, socioeconomically disadvantaged populations face significant barriers to homeownership. While there are many factors at play, this project aimed to find the situations that hold prospective low-income homebuyers back within the Tucson market. Homeownership is increasingly important, seeing as it can contribute to greater participation within the community, as individuals who own homes are more likely to invest in and reinvest in the neighborhoods where they live. Furthermore, owning a home is often less expensive in the long run than renting, making it an important goal for families seeking economic stability. Research for this project was conducted at Family Housing Resources, a nonprofit organization dedicated to educating and supporting low-income individuals and families as they work toward their homeownership goals. Family Housing Resources offers a variety of services, including Homebuyer education, housing counseling, and downpayment assistance programs. My primary objective is to create a comprehensive plan aimed at educating socioeconomically disadvantaged populations about the home-buying process and the resources available to them. By breaking down the process into manageable steps and creating tools to help them assess their current finances, lower-income or less financially savvy members of the community can gain a leg up in getting into home ownership.