Here are some quotes we recently read about the Hispanic community and the housing market:
“Hispanics will account for 52% of new homeowners between 2010 and 2030.”
“Hispanics will drive U.S. housing demand, accounting for 5.7 million more Hispanic households in 2024 than in 2014, representing 36% of the total household formation growth (15.9 million) projected through 2024.”
“Hispanics will account for roughly 40% of all new household formations in the U.S. between now and 2020”.
But how many Hispanics are in the USA?
According to the Pew Research Center, “the Hispanic population reached 55.4 million in 2014 (or 17.4 % of the total U.S. population).”
Are all 55.4 million Hispanics able to purchase a home?
Of course not! There are some Hispanics who cannot because of age or other circumstances, but there are still many Hispanics who can.
For example, here is a statistic that caught my attention. Since we are in an election year, NALEO (The National Association of Latino Elected and Appointed Officials) said that “by the 2016 presidential election, the eligible Latino electorate will reach 28.5 million.” Let’s be honest, though; That 28.5 million includes only the Hispanic adults (18 years or older) who have all of the benefits of living in this country. They are U.S. citizens who are able to realize their dream of becoming a homeowner!
I think we will see a higher housing demand by the Hispanic community. If you are one of these 28.5 million Hispanics and don’t own a house yet, maybe it is time to sit down with a real estate professional and find out your options today!