By now, you may have heard of our latest initiative with VME TV, the only national Spanish-language television network affiliated with public television stations. With our friends at Casa Latina, we’re bringing viewers a new video series, “Vme Hogar,” hosted by home and lifestyle expert, Marlene Pratt. The series is designed to help Hispanic Americans through the homeownership experience – that’s from first home purchase, all the way through tips on selling their home. This culturally-relevant and engaging information for the Hispanic community will help them lead richer, more fulfilling lives in their homes.
Hispanics are expected to account for 40 percent (4.8 million), of the estimated 12 million net new households within the next 10 years. The State of Hispanic Homeownership report highlights that 56 percent of Hispanics feel that purchasing a home is a symbol of success or achievement. As this demographic continues to lead population growth in the United States, Hispanics will have increasing opportunities to drive the homebuyer market in the years to come. In fact, by 2020, NAHREP expects half of the total number of home owners to be Hispanic.
These growth numbers are similar for the jobs sector, as well. In 2012, NAHREP found that Hispanics accounted for almost 50 percent of total job growth in the United States. Eighty-one percent would like to be their own boss if possible, and there are currently more than three million Hispanic-owned businesses in America contributing $465 billion annually to the economy. This positive effect on the economy can only strengthen our real estate market by producing more homeowners and sellers.
One group that may be interested in real estate is the millennial generation. Millennials currently represent 24 percent of the U.S. population,* with Hispanics making up almost one-fifth of the group. This vastly large generation is the future of homeownership, and there is hope that many will be attracted to the real estate profession, especially with their affinity for social media.
We know that agents using social media for work are more likely to sell homes and exceed quota, and Nielsen shows that Hispanics are one of the fastest growing groups among technology and social media usage.
Keep an eye out here and on our social channels for more of our activities in this market. You’ll be able to check out our videos with the hosts of Casa Latina Today and Ms. NY America 2012, as they provide valuable insight to the home ownership process. In the meantime, you can check out our friends at VME TV and Casa Latina below:
From VME TV
From Casa Latina