Hispanics are fueling homeownership growth in the U.S. They represented 62.7 percent of the increase in the U.S. net homeownership rate from 2008 to 2018, 81 percent of the U.S. labor force growth, and 32 percent of U.S. household formations, according to the 2018 State of Hispanic Homeownership Report, released Tuesday.
“Hispanic household growth continues to outpace that of the overall U.S. household growth and is anticipated to do so for the foreseeable future,” the report notes. Overall, the U.S. homeownership rate among the Hispanic population grew to 47 percent in 2018, marking the largest net gain since 2005.
“Despite concerns about housing inventory and changing government policies related to homeownership, the leading indicators, such as household formation, income trends, age, and consumer sentiment, suggest that Hispanics will continue to drive homeownership gains in America,” according to the report.