Hispanics to dominate first-time-buyer market

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?

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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