1 / 10

THE HISPANIC MARKET

THE HISPANIC MARKET. Frances Martinez Myers Chairman National Association of Hispanic Real Estate Professionals. Largest minority group in the nation 1 out of 5 children under 18 are Hispanic By 2050 1 out of 4 people in the US 50% of the US population growth (2000 - 2004).

ignatius-kerr
Download Presentation

THE HISPANIC MARKET

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. THE HISPANIC MARKET Frances Martinez Myers Chairman National Association of Hispanic Real Estate Professionals Relocation Directors Council May 2006 Orlando, Florida

  2. Largest minority group in the nation 1 out of 5 children under 18 are Hispanic By 2050 1 out of 4 people in the US 50% of the US population growth (2000 - 2004) 50% under the age of 27 vs. non white Hispanics at 50% over 40 Mean household income $48K (2003) 18% of management & professional jobs THE DEMOGRAPHICS Relocation Directors Council May 2006 Orlando, Florida

  3. 1 TRILLION PURCHASING POWER BY 2007 • North Carolina – 949% • Arkansas – 924% • Georgia – 710% • Tennessee – 664% • Nevada – 559% • Pennsylvania – 245% University of Georgia – Selig Center Relocation Directors Council May 2006 Orlando, Florida

  4. 49.7% vs. 74% Hispanic Homeownership Rate Gap Relocation Directors Council May 2006 Orlando, Florida

  5. Hispanic Homeownership Rate Based on Income • <$30K – white 51% vs. 28% • $30K - $50K white 74% vs. 49.7% • >$50K – white 82% vs. 71% Relocation Directors Council May 2006 Orlando, Florida

  6. CHARACTERISTICS • Diminishing regional concentration • Larger families – 3.5 vs. 2.4 • 68% headed by married couples • 70% of Hispanics are Mexican • Prefer to transact in Spanish • The perfect customer for life Relocation Directors Council May 2006 Orlando, Florida

  7. ENTRY BARRIERS • Lack of knowledge about the process • Saving for a down payment • Finding a trustworthy advisor • Credit history---unbanked • Language • Affordable housing stock • Residency status & documentation Relocation Directors Council May 2006 Orlando, Florida

  8. SHOW ME THE MONEY!!! • 2.2 million households to buy homes by 2010 • RE Sales Volume $500 billion • GCI $23 billion • Could account for $450 billion in mortgages volume • Potential gross income $8 billion plus (based on 1.75) Relocation Directors Council May 2006 Orlando, Florida

  9. How can you participate? • Recruit bilingual, bicultural agents and mortgage representatives • Study your local market and create the appropriate marketing response • Address the negative perception related to lower sales price • Educate in-house mortgage reps to new financial tools • Promote the creation of affordable housing Relocation Directors Council May 2006 Orlando, Florida

  10. Data Sources • Tomas Rivera Study • US Census • Hispanic Business Magazine Relocation Directors Council May 2006 Orlando, Florida

More Related