|The Importance of the Latino Market in RE
Posted: 13 Nov 2013 04:00 AM PST
Fannie Mae's National Housing Survey examined the attitudes among the Hispanic population toward homeownership, getting a mortgage and the expectations for future homeownership, in order to have a better understanding of the potential impact of this fast-growing population on future homeownership demand.
In their report “Hispanics: A Key Driver of Future Homeownership Demand” they show that “Hispanic expectations for buying in the next three years are an encouraging sign for the ongoing housing market recovery.”
Over the last two years, Hispanics have become more likely than the general population to say that lifestyle benefits are the best reason to buy a house. Hispanics are more likely to prefer owning, particularly for lifestyle reasons:
“Despite greater concern about their ability to get a mortgage, Hispanics are more likely to expect to buy a home in the next three years.” Include the Hispanic market in your business plan, they are ready to buy!
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