Purchasing Power Increases Among Latinos

Purchasing Power Increases Among Latinos

The Housing Wire (3/13, Scoggin) reports, "Purchasing power among Latinos in the US rose to $1.1 trillion in 2011, a sign of continued growth in influence on the economy and housing market, according to a real estate trade group. The National Association of Hispanic Real Estate Professionals said many factors, including relative young age, population growth and increased incomes likely signal a heightened share of Hispanic homebuyers." Data show that "Latinos saw purchasing power more than double over the past decade, compared to a 52% increase for the country as a whole." And, that figure is expected to rise by another 48% by 2016.