Hispanics Key to Texas, U.S. Housing Markets Future? AUSTIN (Associated Press, Real Estate Center) – U.S. Housing and Urban Development (HUD) Secretary Julian Castro last week said for the work that HUD does, and the housing market in general, Hispanics truly are the future. The former San Antonio mayor was talking about the nation as a whole, but he might as well have been talking about Texas, which benefits from its border location and from being a job magnet. The Texas State Demographers Office estimated 52 percent of international immigrants here from 2000 to 2009 were Hispanic, and in 2010 Hispanics made up 37.6 percent of the states total population. That figure is projected to increase to 42.6 percent by 2020, 47.6 percent by 2030, 52 percent by 2040 and 55.6 percent by 2050. (For more on Texas population projections, read Dr. Jim Gaines two-part article, The Amazing Rate, in Tierra Grande magazine.) Meanwhile, a study done last year by the National Association of Hispanic Real Estate Professionals projected that, within six years, nearly half of first-time homebuyers nationwide would be Hispanic. Rolf Pendall, of the Washington-based think tank Urban Institute, said that such projections will depend largely on whether a tight credit market eases enough to help people secure mortgages. The potential is there if the economy is working and mortgage policy is working, he said. click2houston/news/castro-hispanics-key-to-us-housing-sector-future/28169280
Posted on: Wed, 24 Sep 2014 22:08:41 +0000