Growing Latino Housing Influence

The growing Latino population will significantly impact real estate in the United States, said Rogelio Sáenz, dean of the College of Public Policy at the University of Texas. While presenting at the 6th Annual Mortgage Lending Industry Strategic Markets and Diversity Conference, Sáenz based his assertion on demographic trends, citing numbers which show one out of every two people added to the U.S. population each year is Latino. Sáenz said the Latino population could easily triple from 49.7 million in 2010 to 132.8 million by 2050, significantly shifting the makeup of the nation's homebuyers. Sáenz cited data from the National Association of Hispanic Real Estate Professionals, which suggests Hispanics are now the largest minority group and a significant mportion of the age group that is most often involved in home sales — mainly those who are 26 to 46 years old. He added the growing Hispanic population is more likely to have families with children, spurring the need for homeownership. Mark Calabria, director of financial regulation studies at the Cato Institute, has studied home lending issues in the United States and agrees that the Latino share of the housing market is growing, Calabria said in an interview with HousingWire...

Source: HousingWire