Thursday, May 31, 2012

For Hispanic Americans, a Mega-Boom in Homeownership is Revving Up

"Hispanics are enthusiastically angling for the American dream of a home to call their own. Predictions indicated that between now and 2020, Hispanics  – the second largest ethnic group in America — will account for  50 percent of new buyers . Currently, 75  percent of first time buyers are white while Hispanic home buyers constitute 11 percent, a 38 percent increase over 2010 figures.  And as their purchasing power increases, a “mega rise” may be on the way."
We are currently at a crossroads where Latinos are impacting almost every industry in some form or another and recent data regarding homeownership speaks to the growth and influence of Latinos in America. The collective whole of the Latino population segment has presented both marketers and curious onlookers with a prime window of opportunity to create synergies that foster positive growth for America across virtually all forms of industry.
"In general,  Hispanics hold fast to the American dream. According to national housing surveys, despite worries over jobs and the economy, they  are more eager to become homeowners for both emotional and financial reasons.Though only 32 percent of all Americans consider owning a home a symbol of success, 56 percent of Hispanics believe that it is. Additionally, 68 percent of Hispanics versus 57 percent of all Americans are more likely to think purchasing a home is a sound economic decision. And 73 percent of Hispanics compared to 57 percent of all Americans feel that home ownership is a good path to building family wealth for future generations."
For the full article, visit Hispanic Americans Holding Fast to the American Dream