![households](https://garyacosta.com/wp-content/uploads/2021/01/households.jpg)
The Urban Institute released a report last week with some interesting news for household and homeownership growth. The report showed homeownership rates are likely to fall in the next two decades, with the exception of the Hispanic homeownership rate which will rise to above 50% and plateau for most of the next decade. Every other ethnic demographic is expected to see percentage declines as the overall population continues to get older. While percentages will decline, the total number of homeowners will increase. The report says that “the net growth in the number of homeowners between 2020-2040 will come from people of color, especially Hispanics”. The UI estimates that from 2020-2040, there will be a net gain of 6.9 million homeowners. Hispanic homeowners will grow by 4.8 million, Black homeowners will increase by 1.2 million homeowners, other races (mostly Asian) will grow by 2.7 million homeowners, and the total number of non-Hispanic white homeowners will drop by 1.8 million. I encourage you to read the executive summary and full report here. There will be lots of job security in the housing industry for agents and corporations that hire and market intelligently to Hispanic consumers. I hate to say it, but I told you so!
Regardless of political persuasion, most people think the rhetoric of politics has gotten out of control. If you believe that, as I do, there IS something you can do about it. You can ask yourself whether you are helping or hurting the situation. I like to say that there are two types of people in the world: people who add stress and people who relieve stress. I think similarly, some people are adding to the political spectacle in the country, and others are at least trying for something better.
Gary's Blog will return next week.
This past week, the National Association of Realtors invited me to participate in a meeting with the NAR leadership and Jonathan Kanter, the Assistant Attorney General of the United States.