Hispanic households have increased by 6.7 million since 2000, accounting for 43 percent of the nation’s housing growth. Last year alone more than 330,000 Latinos formed new households in the U.S.
Curbed reports that Hispanics are helping to fuel the housing market. The group is expected to make up half of all new home buyers in the next 20 years, even despite a series of possible roadblocks: Low inventory, rising home prices, and troubles with access to credit. Plus, many Latinos live in California, where house prices continue to rise, and affordable housing options are hard to find.
The Great Recession also had an outsized impact on this demographic’s savings, wiping out two-thirds of Latino wealth, according to Pew Hispanic. ... In California, Hispanics face home prices relative to incomes that are approximately twice the national average.
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