Hispanic households grow, accounting for more than half of new homeowners

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The data said that Hispanic owner-occupiers increased from 6.21 million to 6.49 million in the third quarter. hispanics represent Over Half Of New Homeowners | realtor.com It looks like.

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New data from the National Association of Hispanic Real Estate professionals revealed that Hispanics make up more than 60% of the growth in the homeownership rate across the nation, over the past 10 years.

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Significant racial and ethnic disparities still exist, according to Stanford report. Roughly 1 in 6 black and Hispanic households spend more than 50 percent of their income on housing, leaving.

Single-family housing starts improve The housing market continues to improve. According to the U.S. Census Bureau, on a seasonally-adjusted, annualized basis, Single-Family Housing Starts rose to 603,000 last month, an 11 percent increase from the month prior and the highest reading in more than 4 years.. A “housing start” is a home on which construction has started and home builders are breaking ground at rates not seen even.

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More than half the new homeowners will be Hispanic. Less than 7 percent will be white. The gap between Hispanics’ and African Americans’ homeownership rates will grow. African Americans were hit hardest in the housing crisis and will see a large decline in their homeownership rates regardless of economic growth.

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"In 2018, hispanics formed 485,000 new households, accounting for 32.4% of total U.S. household formations," NAHREP writes. "According to Harvard ‘s Joint Center for Housing Studies, Hispanics are projected to increase by 4.6 million households between 2015 and 2025.

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As part of Mayor Bill de Blasio’s new initiatives, Department of Housing Preservation & Development (HPD) Commissioner Vicki Been has announced that one goal for a more economically diverse New York City is to build 80,000 new units of affordable housing – placing apartments for low-income households in middle-class neighborhoods and moderate-income housing in poorer areas.