Read the Bills Act Coalition

Friday, January 11, 2008

Minorities will account for majority of Housing growth

The Joint Center for Housing Studies at Harvard University has come out with some interesting stats in regards to the housing market. We’ll see how the projected growth will play out with the slowing down in the overall housing market but it is a good sign for minorities and legal immigrants that they will be at the forefront of owning the American dream

•Minorities will account for 68% of the 14.6 million projected growth in households in 2005–2015.
•New immigrants will likely account for at least one-third of net household growth between 2005 and 2015.
•Foreign-born minorities are increasingly vital to the housing market, representing some 14% of recent homebuyers and 18% of renters in 2005.

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