The Importance of Homeownership in the Hispanic Community

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 The Importance of Homeownership in the Hispanic Community - Latina on Real Estate

This week, everyone takes time to spend with their family. Many arrangements will be made to guarantee the entire family can be together.

Hispanics have big families, multiple generations that get together to celebrate. For many it can be a sad time because the housing crisis caused many of them to lose their house. The National Association of Hispanic Real Estate Professionals (NAHREP) reported that 17% of Hispanics had lost their homes or were in imminent risk of foreclosure during the crisis.

But they are now ready to return to the market and we will see many of them return in 2016. We started to see some of them retuning to the market this year. According to the U.S. Census, the Hispanic Homeownership rate in 2015 was:

  • First quarter 44.1%
  • Second quarter 45.4%
  • Third quarter 46.1%

As we can see this number is growing and will continue to increase on 2016.

If you lost your home during the housing crisis, you may be eligible to return to the market. Call a local real estate professional in your area and get your new home ready to invite the family for next year’s holidays.

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