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!
I believe deeply in taking the high road; it is rarely good to lose your cool, especially in business. It’s part of what we call emotional intelligence…However, it’s not always best to walk away from a fight. There are some things worth fighting for, and for the right reasons…Historically, NAHREP has been friendly with consumer groups. We have not always agreed on everything, but I respect them and have worked hard to have a good relationship with them. But…
I believe deeply in taking the high road; it is rarely good to lose your cool, especially in business. It’s part of what we call emotional intelligence…However, it’s not always best to walk away from a fight. There are some things worth fighting for, and for the right reasons…Historically, NAHREP has been friendly with consumer groups. We have not always agreed on everything, but I respect them and have worked hard to have a good relationship with them. But…
I am a big believer in being authentic and original…Last year, I started playing with an idea about how entrepreneurship can close the minority wealth gap in America. I floated an audacious idea that the wealth gap poses an existential threat to America’s leadership in the world economy. That was an attention-getter! To develop my thesis on how to close the wealth gap, I thought about my observations in the housing industry. I realized that…