Drive for homeownership true across races

A survey by Fannie Mae says that while the homeownership rates of minorities across the country lag behind the national average, the desire of those people to become homeowners in the future remains quite strong.

The study found that instead of racial difference, it was generally income that determined whether someone was a homeowner or not. For example, while just 44 percent of black are homeowners, the homeownership rate among blacks with an annual family income of between $50,000 and $99,000 was 60 percent.

In addition, immigrants who come to the U.S. generally start out in rental units, but as time goes on, they become more integrated, and their homeownership rate nearly matches the overall average.

The survey also found that despite current economy, 66 percent of respondents still feel homes are a safe investment - roughly the same percentage of people who view an IRA or 401(k) the same way.

Despite having generally affordable home prices, the local homeownership rate lags behind the rest of the country. According to the Census Bureau, just 62.2 percent of local residents own Houston homes.