Bishar Hassan’s parents and five siblings had lived as renters in the 16 years since coming to the United States. But their rental house felt increasingly cramped, and when the building’s owner said he was selling, Hassan knew it was time to move.
He helped his family buy a house in north St. Cloud, with a large yard, three bathrooms and at 2,900 square feet, far more space than they had before. Equally important to him, it put them on a path to building wealth.
Home ownership rates among St. Cloud’s Somali community, however, are considerably lower than other populations, said Mónica García-Pérez, an economics professor at St. Cloud State University.