The Largest Group of Home Buyers by 2030?
Daily Real Estate News | Monday, November 21, 2011
Immigrants are expected to make up a large number of the future home buyers of America in the coming decades, according to a new report, “Assimilation Tomorrow: How America’s Immigrants Will Integrate by 2030” by the Center for American Progress.
Researchers found that while 25.5 percent of immigrants owned homes in 2000, that percentage is expected to jump to 70.3 percent by 2030. If that happens, the percentage of immigrants who will own homes will be on par or even slightly higher than the home ownership rate among native-born Americans, the study finds.
Hispanics, in particular, are expected to make the biggest gains toward home ownership. Home ownership for Hispanic immigrants stood at 21 percent in 2000, but is projected to reach 67 percent by 2030.
Source: “America’s Future Home Owners: How Immigrants Will Integrate by 2030,” RISMedia (Nov. 17, 2011)