Hispanics Buyers Are Gaining Ground as Housing Customers ☘ Hoey Team ☘ eXp Realty Florida

Dated: July 22 2019

Views: 5

Hispanics are posting the largest homeownership gains of any ethnic group, new Census Bureau data shows. The wave of growth is a far cry from four years ago when the Hispanic homeownership rate reached a 50-year low. Since then, ownership among this segment has risen 3.3 percentage points, Census Bureau data shows.

To be clear, whites still have higher levels of overall homeownership. The Hispanic homeownership rate is at 47.4%, which still remains well-below the 73% rate for non-Hispanic whites in the first quarter. But it’s the growth in ownership rates among Hispanics that housing analysts are predicting could have a significant impact on the housing market over the next decade.

“The housing market would look very different today if it weren’t for a tidal wave of Latino home buyers,” Gary Acosta, co-founder and chief executive of the National Association of Hispanic Real Estate Professionals, told The Wall Street Journal.

Hispanics comprise 18% of the U.S. population, yet they accounted for nearly 63% of new U.S. homeowner gains over the past decade, according to NAHREP.

While the Hispanic ownership rate grows, ownership rates among blacks plunged to the lowest levels on record in the first quarter of this year, Census data shows. Economists note this is the first time in 20 years where Hispanics and blacks—the two largest racial minorities in the U.S.—are no longer following the same path when it comes to homeownership rates. A growing population of young Latinos is boosting housing markets across the country. Like all ethnicities, however, Hispanics have faced recent challenges to homeownership. For example, saving for a down payment is the biggest obstacle: 4.6 million of Hispanic millennials earn enough to afford a home in their area but are impeded without sufficient down payment funds or enough available housing inventory, shows a separate study from the Urban Institute. Still, this segment of buyers is showing resilience when it comes to increasing their homeownership rates.

Article content from our Realtor Makazine

 

Also; please check out the other blogs, and tabs to many other Links, Updates & Reports that we have here on our informational website.  

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team  brokered by eXp Realty

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team ☘ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials.  Thanks, Barry & Kim 

Blog author image

Barry & Kim, Hoey Team 🍀 239RealEstateDeals.Com LLC ☘

"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you an....

Latest Blog Posts

🔔 Home Prices are Still Soaring in Undervalued Cities 📈 Barry Hoey, Broker Owner Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Increases in Miami (up 36.2%) and Honolulu (up 23.5%) reflect remote work trends, but 8 cities with “top 10” price increases are ones with still-affordable housing.NEW YORK – Some

Read More

🚨 Florida Town Considers End to Single-Family Zoning 🏡 Barry Hoey, Broker Owner 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Is single-family zoning good or bad?  It’s a hot issue, but affordable-housing advocates say it’s one of the problems, and Gainesville might nix it altogether.GAINESVILLE, Florida

Read More

📣 US Senate Continues Housing-Crisis Investigation 🕵️‍♂️ Barry Hoey, Broker Owner 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

Testimony suggested that “opaque ownership laws” and specifically LLC ownerships have turned “I’m going to let them foreclose” into a business tax strategy.WASHINGTON

Read More

❓ Are we Inching Closer to Recession 📊 Barry Hoey, Broker Owner 🍀 239RealEstateDeals.Com LLC ☘ Southwest Florida 🌴

The next downturn may be different than the last. Look to commercial real estate for clues about the direction of the economy. from an article by Lawrence YunThe U.S. gross domestic product

Read More