Sunday, May 14, 2006

US: Latino Home Ownership Increases Dramatically Nationwide

While this hardly is a surprise to anyone who has done any real estate work in places like California or Illinois, the numbers are staggering.
Across the country, the number of Hispanic homebuyers is climbing dramatically, especially if you look at the name game.

An analysis of public records by San Diego-based DataQuick reveals the top 10 most common homebuyer names in 2005.

On this list appear four Hispanic names, double the amount of 5 years ago.

Included on the list are: Rodriguez, Garcia, Hernandez, and Gonzalez.

The story in California is even more revealing, where the five most common surnames are Hispanic.

Almost 28 percent of all homebuyers in the state are Hispanic, according to a 2005 study.

Undoubtedly, it also means that many undocumented workers are also buying houses, much to Lou Dobbs horror (he did a piece about it some months ago). There is nothing wrong with foreign nationals acquiring equity in the US, paying property taxes, and adding to banks portfolios of loans, right Lou? Sometimes it is done through third parties, usually a close relative either acting as the buyer or co-signer.

Anyways, this is a really good thing.


Source Hispanic Trending

5 comments:

Henry said...

Hi,

I saw that you are blogging about Latin America, and I thought that you might be interested in a show I'm researching for Radio Open Source.

We (radioopensource.org) will be doing a show on migrant remittances this Thursday. The link to our Remittances show-in-progress post is: http://www.radioopensource.org/harnessing-remittances/

It would be great to get your feedback on people we should talk to, articles we should read, or anything that you think might contribute to the show. Most importantly, we are trying to bring people to our blog who can share their experiences with us. We are especially interested to hear from people who participate in remittances (both sending and receiving), but we are eager to talk to non-profit workers, employers, and any blogger who has something to add.

Open Source is a public radio show that uses the Internet as its primary research source and community.

Thanks very much, and we hope to hear from you on our blog,

Henry Shepherd
Radio Open Source

El-Visitador said...

Don't know about dataquick's methodology...

arguably, lower-economic stratum latins are monocultural (pure-blooded indians excepted, of course). Therefore, it should not surprise that they share relatively few extreme├▒o last names such as rodriguez and gomez.

traditional gringos, on the other hand, are 40% german stock plus liberal amounts of irish, italian, english, scandinavian, et al.; i.e., they probably have a higher diversity of common last names.

therefore, you could have 2 million gringos & 1 million latin immigrants, and it should be no surprise that the "most common" last name would now be latin

the foregoing reasoning applies only to the emigrant-type mainstream latin population. it is well known that latin capitals remain extremely cosmopolitan because of the large and extremely diverse influx of european immigrants in the 19th & 20th; however their descendants are hardly the typical California latin immigrant.

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