As National Hispanic Heritage Month comes to an end, so too do our “Thursdays of Interviews.” After 5 weeks of interviews and comments about the Hispanic community’s involvement in the housing market, we want to take this opportunity to report on some projections for the growth in Hispanic Homeownership. Here are some quotes from the experts:
“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 52% of new homeowners between 2010 and 2030.”
“Latinos 50+ currently represent 10% of this age group and that percentage is expected to grow to 24% by 2060.”
“Hispanics will account for roughly 40% of all new household formations in the U.S. between now and 2020.”
The projections are in – don’t wait to become a homeowner! Sit down with a real estate professional to learn about the opportunities in your market, or create a plan to become a homeowner as soon as possible.