2. Latinos are optimistic about the next year and the upward economic mobility for their children.
The report shows that optimism among Latino families and their economic prospects has increased faster than that among other demographics. The share of Latinos who expect their finances to improve “a lot” or “some” in the coming year is at 81%, compared to 67% in 2008. This is the largest increase since 2004, when the Pew Research Center started the National Survey of Latinos.
Here is more information about the subgroups:
- 81% of Latinos expect that their family’s financial situation will improve in the coming year.
- 58% of Latinos expect “some” improvement in their family’s financial situation.
- 59% of Latinos (65 years or older) expect their family’s financial situation to improve.
- 83% of Latinos (ages 30 to 49) expect their family’s financial situation to improve.
- 84% of Latino men and 77% of Latina women expect their family’s financial situation to improve.
- 85% of college-educated Latinos expect improvements in their financial situation this year.
Latinos foresee upward economic mobility for their children.
The optimism about economic prospects extends to their children’s financial future, and 72% expect that their children will be better off financially than they are.
What better way to start creating wealth, not only for yourself but also for your kids, than to invest in your own home?
This is something that many Hispanics are doing right now, and we recently reported that “Hispanics are fueling growth in residential real estate state in the U.S.”
If you are a Latino who expects to improve your family’s financial situation, start by calling a real estate professional who can help you make the biggest investment of your life, your own home!