Foreign-born citizens to comprise one-third of nation’s homeowners within decade

Immigrants could represent one-third of homeowners in America by 2020, researchers say.Immigrants who?live in Texas may soon have a lot of influence on how active the home buying market is not only in the Lone Star State, but the entire country.According to a recent report issued by the Research Institute for Housing America, which is affiliated with the Mortgage Bankers Association, immigrant homeowners?represent?an increasingly large percentage of homeowners in the U.S., totaling 800,000?in 1990, approximately 2.1 million?in 2000 and an estimated 2.4 million?as of 2010.And over the next decade, that total could reach nearly 3 million.In fact, the report indicates that by 2020, immigrants who relocate to the United States?will make up roughly one in every three new households and slightly more than one in every four renter households.John Pitkin, senior research associate for the Population Dynamics Research Group at the University of Southern California, noted that this is a natural result of the immigrant population steadily increasing.”Rising numbers of foreign-born households are driven by the continued increases in homeownership rates achieved as immigrants settle longer in the United States,” said Pitkin.Many Houston homes are already well represented by foreign-born citizens. According to the Immigration Policy Center, 4.1 million immigrants live in the Lone Star State, a third of whom are naturalized.
Real Estate News brought to you by 2M Realty, a true expert in the online real estate market.

About 2M Realty

All content from this author comes from 2M Realty News Feed

Speak Your Mind

*

Follow

Get every new post delivered to your Inbox

Join other followers: