Los Angeles, CA–(HISPANIC PR WIRE)–May 4, 2006–By 2010, 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 http://www.epinet.org, 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 (NYSE:PG), 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.”
P&G participating brands include: Bounty, Charmin, Crest, Dawn, Downy, Bounce, Febreze, Folgers, Pringles, Pampers, Pantene, Always, Tampax, Cover Girl and Tide.
About Procter & Gamble
P&G is celebrating 165 years of providing trusted quality brands that make every day better for the world’s consumers. P&G markets nearly 300 brands including Pampers(R), Tide(R), Ariel(R), Always(R), Pantene(R), Bounty(R), Head & Shoulders(R), Downy(R), Crest(R), Gain(R), Olay(R) and Clairol(R) in more than 160 countries around the world. The P&G community consists of nearly 102,000 employees working in almost 80 countries worldwide. Please visit http://www.pg.com for the latest news and in-depth information about P&G and its brands.
Albertsons is one of the world’s largest food and drug retailers with annual revenues of over $35 billion. Based in Boise, Idaho, the Company employs more than 230,000 employees and operates approximately 2,500 retail stores in 37 states across the United States, under banners including Albertsons, Jewel-Osco, Acme, Albertsons-Osco, Albertsons-Sav-on, Sav-on Drugs, Osco Drug, Super Saver, Shaw’s and Star Market. For more information about Albertsons, please visit our website at http://www.albertsons.com.
About CNN en Español
CNN en Español, CNN’s only independently produced 24-hour network in a language other than English, continues growing in the United States where it currently reaches over 3.3 million households, and is available in more than 14 million cable and DTH households throughout Latin America. The network provides live coverage of breaking news, and continuous updates on major national and international stories and issues, including topics of particular relevance to Hispanics such as homeland security, immigration, health and education; round-the-clock weather updates; and specialized programs on current events, business and the economy, personal finance, sports, show business, technology, medical news, and travel.