Jul 02, 2012
Hispanics to dominate first-time-buyer market
02 Jul 2012
Posted by Andrew Kantor
Within the next decade, Hispanic-Americans are going to dominate the first-time home buyer market — so writes mortgage expert Rob Chrisman, who merely had to look at the numbers.
According to national housing sentiment surveys, he says, Hispanic-Americans are more likely to believe that owning a home is a symbol of success, that buying a home is a sound economic decision, and that homeownership is a good path to building family wealth. More, that is, than the average American.
> These survey results are one reason why analysts are calling for a “mega-boom” in housing between now and 2020. The emotional and financial appeal of homeownership is a strong one.
He also points out that the Hispanic population in the U.S. has more than tripled in the past two decades, and is growing faster than the rest of the population.
> By 2020, Hispanic-American buyers will account for 50% of all first-time home buyers. It’s no wonder NAHREP says that the Hispanic market is an “increasingly key market for homeownership”.
Something to keep in mind, no?