Hispanics Driving Real Estate Comeback

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Hispanic home ownership is skyrocketing, providing an important driver to the rebounding U.S. housing market, according to a new study by the National Association of Hispanic Real Estate Professionals.

Hispanics accounted for 355,000, or 51 percent, of the total net increase of 693,000 owner households in the U.S. in 2012, the study found.

From 2000 to 2012, Hispanic homeownership increased 58 percent, from 4.2 million to 6.7 million homes. The non-Hispanic U.S. population reported just a five percent increase during the same period.

The Hispanic community has remained remarkably resilient during the soft economy, according to Gary Acosta, chief executive of NAHREP and editor of the study. Hispanics view homeownership as a status symbol, with 56 percent of respondents to the survey saying that homes are seen as a symbol of success, which is a major motivation for buying, he said. Less than a third of non-Hispanics offered the same view. READ MORE

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