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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).

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THE HISPANIC MARKET

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  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

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