Procter & Gamble, Albertsons & CNN en Español partner to educate Hispanic on homeownership.

Latinos will account for nearly one-third of the home buying market in America, according to a story published by the Associated Press on March 15, 2006. Despite the rapid Hispanic population growth in America, the homeownership gap between Hispanics and the general population continues to widen.

In a study updated in February 2005 by Economic Policy Institute, in 2003, when nearly three-quarters of whites owned their homes, less than half of Hispanics were homeowners – whites: 72% – Hispanics: 46.7%. The gap can be attributed to language barriers, a lack of understanding of the home buying process, a lack of credit history with financial institutions, and the high housing cost in some cities.

For the second year in a row, P&G and Albertsons are committed to helping the Hispanic community understand the benefits and the steps to homeownership, Procter & Gamble, Albertsons and CNN en Español have joined forces in an effort to reach out to Hispanic families, particularly young mothers, to offer a free Home Buying DVD courtesy of CNN en Español.

Consumers who shop at participating Albertsons stores and purchase any two participating P&G products will instantly receive the DVD FREE, available from April 30, 2006 – May 31, 2006. The DVD features three chapters focused on key aspects of the home buying process, they are: Chapter 1: Where To Begin?, Chapter 2: How Is My Credit?, and Chapter 3: The World Of Loans.

Felisa Insignares, Multicultural Community Relations Manager at P&G says, “Homeownership continues to constitute the key ingredient to building economic wealth and creating vibrant, safe communities. Through this partnership, P&G and Albertsons are proud to help educate the Hispanic community about homeownership options so that they can offer their families and future generations the stability and opportunities of homeownership.”

“We are proud to be a part of this initiative to give Latino families the tools they need to help make their dream of owning a home of their own, a reality,” said Christopher Crommett, senior vice president of CNN en Español. “In addition to unparalleled breaking news coverage, our mission includes providing our viewers with timely and valuable information that is directly relevant to their lives.”