Nicole Friedman
speaker
798 appearances
16 recordings
1 series
first heard Aug 2017
last heard Dec 2024
Nicole Friedman’s voice in public audio — every appearance, attributed to the second.
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Appearances
Before the pandemic, when the market was a bit more sluggish, Hispanic homebuyers were really seen as one of the big strong areas driving the market.
Since the pandemic, the market has really heated up.
It's extremely hot.
There's huge demand all across the market.
And so Hispanic homebuyers continue to be a big presence, but there's lots of demand all across the market from all segments of the U.S.
population right now.
Yeah, so there were really fascinating projections from the Urban Institute that came out this year that are basically based on looking at the age of different population segments in the U.S.
and the household formation growth and projecting, you know, what is going to happen to homeownership rates in the next 20 years by 2040.
And in part of those projections, the Urban Institute projects that between 2020 and 2040, 70% of the net new homeowner households will be Hispanic.
And so there is an expectation that because of the youth of this population, because of the household formation growth,
that the Hispanic population is going to drive basically the bulk of new homeownership in the next 20 years in the U.S.
And at the same time, as the Urban Institute expects the Hispanic homeownership rate to grow by 2040, it also is projecting that the white homeownership rate and the black homeownership rate will decline in that same time period in those next 20 years.
And that's also due to the relative age gap.
of those populations and the home buying and household formation patterns that those groups have shown.
Well, I think there's definitely concerns about the shortage of inventory out there and the difficulty that particularly first-time homebuyers are having getting into the market, finding homes that they can afford to buy.
Thank you for having me.
So there has been a trend in the past decade where Americans are living in their homes longer.
Homeowners are staying in their homes longer.
So the newest data, an analysis by Redfin shows that the typical homeowner in 2020 had lived in their home for 13 years.
And that's up from in 2010, it was a little under nine years.
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