Latinos Key To Housing Recovery

A report from the National Association of Hispanic Real Estate Professionals found that Latinos, as first-time homebuyers, are set to be key to the housing recovery in this country. The report, “The State of Hispanic Homeownership,” found among other things:

…minorities and immigrants will drive growth in housing demand due to their population size, age and greater propensity to be married with children. In particular, within the next 15 years, they are expected to drive demand for condominiums, smaller starter homes and first trade-up homes. They are also expected to represent a rapidly growing segment of the middle and middle-upper markets for housing…

Also:

• Hispanics are now the largest minority group in the nation and represent a growing portion of the age group 26 to 46 years of age that are involved in most home sales
• More than other population groups, Hispanics can pick up stakes and move to other parts of the country in search of better jobs and more affordable housing;
• Hispanics continue to attain steady gains in income, education and entrepreneurship and demonstrate a strong work ethic, desire to succeed and purchase power enabling more of them to achieve homeownership;
• The current environment of record low interest rates, government-backed loans and less predatory lending are making sustainable homeownership more affordable.

If you think about it, this makes perfect sense. Latinos are a growing portion of the population, therefore the economy, so since real estate is such a big part of the economy, they’re bound to be essential to that slice of the economy as well. What do you think? Read the report here.

Follow Sara Inés Calderón on Twitter @SaraChicaD