Why Hispanic homebuyers are key to the housing market’s recovery

*More proof that Latinos are key to the future of the nation’s economy. What’s needed? More jobs and “reformed housing policy.” VL

By Hallie Busta, Construction Dive (2.5 minute read)

A March 2016 report from the Hispanic Wealth Project and the National Association of Hispanic Real Estate Professionals noted that 2015 saw the biggest year-over-year increase in Hispanic homeownership in a decade, jumping from 44.5% to 46.7% in 2015. Since 2000, that group has gained 2.8 million homeowners whereas the number of non-Hispanic homeowners fell 85,000 during the period.

Read more NewsTaco stories n Facebook. >> 

Meanwhile, the country is struggling to create enough housing inventory to meet demand, and the resultant rising prices are keeping would-be buyers at bay. In September, real estate website Trulia reported that the country’s housing stock fell 7% in the third quarter of 2016, marking the fifth consecutive month of decline. The report found that starter and trade-up home inventories took the biggest hit, down 10.7% and 9.2%, respectively, during the quarter. And metros across the country are struggling to create housing at a price point that entry-level buyers can afford. READ MORE