Hispanic Home Ownership Gap
Between now and 2020, roughly four out of every 10 new households that form in the U.S. will be headed by someone of Hispanic descent – more than any other single racial or ethnic group. The Hispanic demographic will be a key driver of home rental and purchasing activity in the next several years, and this will have important implications for the housing sector. Hispanics aspire to home ownership, and the majority of Hispanic movers want to purchase when they move. But a new report from The Demand Institute finds that many Hispanic households will struggle to achieve the dream of home ownership in the next five years because they lack the down payment, income or credit to follow through on their plans.