March 31, 2012

THE CONSERVATIVE COHORT:

Study: Hispanics Poised to Be 'Mega-Force' in Housing (Meg Handley, March 28, 2012, US News)

Still saddled with a huge overhang of distressed properties and lackluster demand, it seems the housing market could really use a knight in shining armor to slay the metaphorical dragons choking its growth.

According to a study released this month, that white knight could come in the form of Latino homebuyers who are expected to provide a deep well of housing interest over the next decade, propelling demand for condos, starter homes, and trade-up homes. [...]

During the third quarter of 2011, the Hispanic homeownership rate rose to almost 48 percent, accounting for more than half of the total growth in homeownership over that period. Drilling down to the raw numbers, Hispanics bought almost 300,000 housing units in the third quarter of 2011, compared with 190,000 units bought by African-Americans, 66,000 by Asians, and just 18,000 by non-Hispanic white households.

Posted by at March 31, 2012 5:01 AM
  

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