How will the housing industry react to this demographic shift" For years, the myth of easy, accessible American homeownership and upward mobility?the caricatured image of white picket fences, suburban living, and keeping up with the Joneses?has needed a refresh in light of post-recession realities and the affordability crisis. But, with looming demographic shifts poised to change the U.S. housing market, it?s time for another change in popular perception.
The typical American homebuyer, like much of the rest of the country, is increasingly young and Hispanic. According to statistics from the 2016 State of Hispanic Homeownership Report, jointly released this May by the Hispanic Wealth Project and the (NAHREP), the U.S. is in the midst of a Hispanic homeownership surge. Since 2000, Hispanic households have increased by 6.7 million, representing 42.5 percent of the nation?s overall household growth, a trend only expected to accelerate. Latinos are expected to make up 52 percent of new homebuyers between 2010 and 2030, fueled in large part by the nation?s 14.6 million Latino millennials and growth in the increasingly diverse suburbs.
National Association of Hispanic Real Estate Professionals
Growth in Hispanic homeownership is having an increasing impact on U.S. housing.

At a time when homeownership hovers near a 50-year low, more than 330,000 Hispanics formed new households last year. This is happening despite a low rate of inherited wea...