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 offered something a little different during the last 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 shared those interviews with you each Thursday between September 15th and October 15th as part of a series that we called “Thursdays of Interviews.”
Our final expert is:
Steve Harney, Founder of Keeping Current Matters
Is the Hispanic Community Important in the Housing Market?
Hi ladies and gentlemen, my name is Steve Harney; I’m the founder of Keeping Current Matters. Recently, Jeymy Gonzalez, the power behind of the new blog latinaonrealestate.com, asked me my opinion on, “how important was the Hispanic market to the overall real estate market?” And, the best way for me to explain that to you, is to give you couple of stats. Number one: In almost every single real estate market across the country there is a large Latino population, so don’t think that there is not. There are very few pockets in this country that don’t have a large population of Hispanics. Now, why that’s important is between now and 2020, about 40% of all new household formations are going to be from Hispanic people, alright? Forty percent! Four out of 10 of all new household formations are going to be in the Latino community. And maybe more important than that, between now and 2030, 52% of all first-time homebuyers, new homebuyers, are going to come from the Latino community. So we have 40% from now until 2020 of all new household formations, and 52% of all first-time homebuyers between now and 2030, are going to come from that Hispanic marketplace. Those two numbers alone talk to the power of the Latino market in regard to the overall real estate market. I will tell you this, if you need more information on this and want to know how to understand what the Latino market requires, and get more information on the Hispanic population, go to latinaonrealestate.com. That’s latinaonrealestate.com. Jeymy does a phenomenal job of getting you that information.