A new study called “The Latino Effect on Economic Growth” explains the contributions made by Latino Americans to the U.S. economy. One important point made in the study is that there has been an increase in the income of Latinos.
The American Community Survey (ACS) showed an increase in the affluence of Hispanic households during the past decade in the income bracket of $200,000 or more, from 2005 to 2015. Hispanics had the highest percentage increase, with the number of households increasing by 187 percent as shown in the following graph:
This growth in income has also increased the buying power of affluent Latinos! Many of them will be investing their income in real estate.
If you have some extra income and would like to invest in real estate, call a local real estate professional to help you increase your real estate portfolio.