Latin Market Trends
LATINO POPULATION - GROWING FAST!
GROWTH OF THE MARKET - OVERVIEW
The Hispanic population is growing dramatically and making its own market. As of 2006, there
are over 42 million Hispanics in the United States. More importantly, the Hispanic population is
considerably younger than other ethnic groups in the United States, so the Latino boom has just
started and will continue to be a growing market. This is no passing fad!.
THE STATISTICS
Latinos Are Younger
~ Median age for this market group is almost 10 years younger than the overall US population.
~ Their disposable income is growing by about 9% per year.
~ Latino Middle Class will be created by lowering the barriers to home ownership.
~ Latino fi rst time homebuyers are 5 years younger than non-Latino fi rst time homebuyers.
Power of Generation Ñ
~ In USA 1 out of 5 births are to Hispanic women!
~ In Los Angeles 60% of births are Hispanic!
~ In El Paso 85% of births are Hispanic!
~ In USA 6 out of 10 children under the age of 5 are Hispanic!
~ Hispanic Teen population in 2005 grew by 30%, Non-Hispanic Teen population grew by only 8%!
~ The trends are very clear. Isn’t it time to focus?
THE LATINO MARKET - WHY ITS HOT
Combine a rapidly growing population, outrageous increases in buying power and household income, an emerging middle class, and a desire for more home ownership and you have a very hot Hispanic Real Estate Market.
~ Hispanic Wealth is Growing. According to the Selig Center for Economic Growth at the
University of Georgia (the “Selig Center”), 2007 will mark the fi rst time that Hispanics will
control more disposable personal income than any other minority group in the US.
~ Hispanic Buying Power. The Selig Center estimates the 2006 Hispanic buying power to be
$798 Billion. Hispanic buying power is expected to grow 6% in 2007 to $863.1 Billion. It is
anticipated that by 2011 Hispanic buying power will increase to $1.2 Trillion. From 1990 to
2011, Hispanic buying power will have increased at a growth rate of 450
~ Hispanic Income is Increasing. In 2002, the median household income of Hispanics was
$33,601. By 2005, the median household income of Hispanics increased to $35,967. That’s
a 7% increase and the trend is anticipated to continue. See Synovate, 2004 U.S. Hispanic
Market Report and US Census Release 8/29/06.
~ Emerging Middle Class. The Tomas Rivera Policy Institute demonstrated that “while the
number of Hispanic households doubled between 1979 and 1998, the number of those in the
middle class grew by earl 80% to almost 2.7 million.” See Chiqui Cartagena, Latino Boom!,
pp 22-23. Approximately 36.3% of Hispanic households are considered middle class (i.e.,
annual income of $40,000+) and have a household net worth of approximately $15,000 to $239,000.
~ Home Ownership. According to the Pew Hispanic Center, 46.3% of Hispanics households
owned their homes in 2001. By 2005, that number increased to 48.5% Hispanic home
ownership is on an upswing.
~ Hispanic Population. The Selig center reports that the Hispanic population is growing at a
rate of 126.4% for the period 1990 to 2011 compared to the non-Hispanic population which
is growing at a mere 15.4% for the same period. While Hispanic home ownership increased
by 2.2% during this decade, the Hispanic population grew by an incredible 11 to 12 million
people, which makes the home ownership fi gure even more remarkable.
For professional advise on all aspects of buying or selling real estate, please contact me at-786-287-9272 -email:Richard@RichardRecuset.com
Richard Recuset-Multi-Million Dollar Producer-The Recuset Group
