Hispanic Homeownership Increases Despite Possible Inhibiting Factors
Hispanic homeownership continues to thrive even with concerns about recent U.S. immigration policy as well as housing shortages that have been plaguing the entire country.
"The rate increased to 46.2% from 46% in 2016. The high point was 49.7% in both 2006 and 2007, according to a report from the National Association of Hispanic Real Estate Professionals," reported National Mortgage News.
"In addition, 2017 ended with the highest number of Hispanic homeowners, at 7,472,000 units, up by 167,000 from 7,305,000 units one year ago, which was the previous high."
There were a few concerns among the current state on Hispanic immigrants to the U.S. following tough debates over immigration policies that could severely affect the number of immigrants. There also happens to be a nationwide housing shortage that has made to tough on not just Hispanic buyers, but homebuyers as a whole.
This growth is also predicted to continue according to experts from the NAHREP.
"'We see from the report's data the strong enthusiasm for homeownership within the Hispanic community,' said NAHREP President Daisy Lopez-Cid in a press release accompanying the report," according to NMN.
"With a growing Hispanic population and the highest rate of workforce participation, Hispanics are expected to drive growth in the housing market for decades."
To see the full breakdown of statistics from the U.S. Censure Bureau and the NAHREP, click on the image above.