A growing focus on Hispanic homebuyers on the part of large financial institutions will be the topic of an upcoming feature article in a major financial publication. The writer has recognized that a tipping point has occurred with big banks and small independent lenders placing more emphasis on the burgeoning Hispanic homebuyer segment. One question is whether this new focus will result in changes in product design and underwriting guides that address the unique nuances of many Hispanic buyers. I believe this is happening however, most lenders are underestimating the important role that technology and social media play in the lives of a typical Hispanic family. Hispanics are more than ten years younger than the general population, and out-index all other demographic groups in their use of technology, especially mobile technology. Focus is nice, but marketers need to look beyond the surface when it comes to Hispanic consumers.
Next week, I will be speaking at a Hispanic Leadership Summit at the United Nations. I was asked to speak on the topic of Unity. The following is a preview of my speech.
The image of Latinos is not just a nice thought; it affects everything from business opportunities and access to capital to how our children are treated at school. Latinos are among the hardest workers and most entrepreneurial of any group in America. However, negativity has dominated the narrative about Latinos for far too long. This one is on us.
We currently have 11 million unfilled jobs in America. Ending illegal immigration will either dramatically increase that number and have massive disruption to our economy, or we will have to...