Wave of Hispanic Buyers Boosts U.S. Housing Market

[Londilon]

The homeownership rate for Hispanics has increased more during the past several years than any race or ethnic group, including whites. The rate, which hit a 50-year low in 2015, has risen 3.3 percentage points since then, according to U.S. Census Bureau data. The overall U.S. homeownership rate bottomed in the second quarter of 2016 and has grown 1.3 percentage points since then.

While Hispanics comprise only 18% of the U.S. population, the group accounted for nearly 63% of new U.S. homeowner gains over the past decade, according to the National Association of Hispanic Real Estate Professionals. New homeowners include people buying first homes and those coming back into the market after a foreclosure.

Minorities bore the brunt of the 2008 housing bust and their return to homeownership has been mixed. African-American homeownership tumbled to an all-time low in the first quarter of this year.

Now, a growing population of young Latinos increasingly eager to buy homes offers fresh hope to a slowing housing market, where sales of existing homes have fallen on an annual basis for the past year.

Hispanics and blacks saw significant gains in homeownership during the housing bubble, aided by lenders that targeted minority buyers with risky loans that eventually led to wide-scale foreclosures. The Hispanic homeownership rate hit a high of more than 50%, before plummeting 6 percentage points over the next eight years, according to census data.

Houses in Hispanic communities were 2.5 times more likely to be foreclosed upon than homes in white communities between 2007 and 2015 while homes in black communities were twice as likely to be foreclosed on, according to an analysis by Zillow.

Many come from countries where credit and mortgages aren’t available so they are used to buying homes in cash. Ms. Boston will sometimes tell buyers to come back when they have been in the same job for two years so they can qualify for a mortgage.



Lenders are also targeting Hispanics. These borrowers took out 9.4% of mortgages in the U.S. last year, versus 5.8% at their recent low point in 2010, according to ComplianceTech’s LendingPatterns.com.
Eva Angelina Romero, a real-estate agent in Nashville, said that more small lenders are offering programs geared to Hispanic buyers. One uses a tax identification number instead of a social security number, which a buyer wouldn’t have if undocumented. She said that while most of her clients used to be non-Hispanic, now 80% are Latino.

Wave of Hispanic Buyers Boosts U.S. Housing Market
I bet the neighborhoods these hispanics are buying in are black neighborhoods

 

[Londilon]

you dont need a social security number to buy a house now. LOL thanks Obama.

 

[Noriega]

@ab.aspectus
They buying up everything in the south burbs,lotta them getting priced out the city

 

[BigMan]

So what y’all going to do about it

 

[Pimp]

They're just the new fools. The only real estate that matters is commercial real estate.

 

[Londilon]

They're just the new fools. The only real estate that matters is commercial real estate.

They are being used to gentrify black neighborhoods. It is something to be concerned with.

 

[feelosofer]

Most of the affluent Black neighborhoods in NJ are being emptied out. Most Black people with money are taking their bags and moving down south, Hispanics and Indians are buying up all the houses.

 

[Field Marshall Bradley]

They are being used to gentrify black neighborhoods. It is something to be concerned with.

A lot of them have 3 to 4 people paying on one mortgage...... they’ll pay that bytch off quick and go cop another one in a family members name with 3 to 4 more relatives chipping in on that mortgage..... this ain’t counting the homes they’ve already paid cash for..... I’m speaking on Mexicans, not sure on how other “Latinos” move

 

[BeeCityRoller]

So what y’all going to do about it

Nothing. The Coli only believes reports that say its more financially wise to rent over buying. While these millionaire white, Jewish, and 1st generation immigrant landlords are breathing down their necks by the 2nd of the month for that payment.

 

[☑︎#VoteDemocrat]

I've been telling yall for years and yall mocked me.

I pointed this out in 2015 and yall mocked me.


www.thecoli.com/threads/illegal-immigration-hurts-the-black-community.371501/page-12#post-16147304

 

[Real]

So what y’all going to do about it

Complain and continue to be jealous

 

[Cel 510 kid ados forever]

Complain and continue to be jealous

Jealous? They using them to gentrify black neighborhoods.

Now stfu cac

 

[Ezekiel 25:17]

They're just the new fools. The only real estate that matters is commercial real estate.

They're not the new fools. They're income averages around $45k/year. Big ass families living in one house and everybody working. They buying up everything slowly, but surely. Their neighborhoods might not be the best, but there's always a sense of community.

As their population really grows Democrats will cater to them more and more.

 

[Real]

Jealous? They using them to gentrify black neighborhoods.

Now stfu cac

Yep...u definitely dont sound jealous.


We just gotta do better. Thats all im saying

 

[Tommy Knocks]

dang they make up 18% now? theyll be 25% by 2030.
and yet the media still focuses on us. youd think by now cacs would have a new target and leave us the fukk alone.