Hispanics are likely to drive housing demand in the coming years, with the population expected to more than double to about 128 million by 2060, according to the Vice President of Housing and Community Outreach at Freddie Mac Christina Diaz-Malone.
“Their influence can already be seen when you consider the number of Hispanic households owning their homes grew by 59% between 2000 and 2013 – compared to an increase of just 8% for total owner households,” Diaz-Malone said.
And by 2025, Hispanics are expected to account for up to 40% of all new households.
In order to prepare for the influx, Diaz-Malone said Freddie Mac is working closely with housing counselors, non-profits and other organizations in three important ways: financial education, pre-purchase counseling and down payment and closing cost assistance.
(Source Freddie Mac, click for larger image)