Each year in the United States we observe National Hispanic Heritage Month, from September 15th to October 15th, by “recognizing the contributions made by Hispanic and Latino Americans in the United States.”
The Hispanic community has had a great impact on the housing market and will continue growing its influence. As a form of celebration, we are going to offer something a little different this month.
We interviewed a few real estate experts and asked the question: “Is the Hispanic community important in the housing market?” So, in place of the written blog, we are going to share those interviews with you each Thursday between September 15th and October 15th as part of a series that we are calling “Thursdays of Interviews.”
This week our expert is:
Joe Velazquez, Board Director Emeritus,NAHREP North Dallas (National Association of Hispanic Real Estate Professionals)
Is the Hispanic Community Important in the Housing Market?
The Hispanic Market is one of the most important demographics in regards to homeownership today in America. When you look at the numbers and you see some of the past history, when we talk about the merging market and we talk about the multicultural populations, today, Hispanic Latinos is the market. That is the streamline economy today, and there may be some challenges that, as a real estate professional, that you may encounter. For example, education! There are still Latino families today that don’t believe, that they don’t know, they don’t have the knowledge or understanding that they can actually be a homeowner. And it’s going to take drive and it’s going to take energy, and it’s going to be, getting out to the communities, connecting with people, and reaching out and helping them understand that it is achievable. That through the help of a real estate professional, through the help of somebody that can coach them and teach them the process and hold their hand through it, they can achieve homeownership. Now, when you look at the challenges in regards to education, yes, we know that access to credit may also be something that can be an obstacle. But again, as a real estate professional, I believe that we need to do a good job of educating ourselves and making sure that we empower our resources, so that we know and understand what’s out in the market. We need to educate ourselves, we have to be aware of what’s available so we can facilitate that to our clients. Because there is access, it may be a challenge finding it, but through again, through some emphasis and focus on finding the resources, they are available. And again, when we look at the millennial population today, Hispanics, again, will rule, will be one of the largest segments within that already monumental demographic of millennials. And there is so much talk about them not being interested in homeownership, but when you think about the Hispanic demographic, they have that core value, it’s a heritage, a DNA within them, to have the best quality of life that they can for their family. And I believe that Hispanics will be the leading population within the millennial that will be the homeowners of tomorrow.