Addressing Hispanic Homeownership

first_imgHome / Daily Dose / Addressing Hispanic Homeownership Subscribe The Best Markets For Residential Property Investors 2 days ago Addressing Hispanic Homeownership Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Tagged with: Hispanic Homeownership Sales The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. August 14, 2019 973 Views Sign up for DS News Daily Hispanic Homeownership Sales 2019-08-14 Seth Welborn Previous: The Cost of Household Renovations Next: Gen Z Home Loans Catching Up Data Provider Black Knight to Acquire Top of Mind 2 days ago Hispanic homeownership is lagging behind non-Hispanic white homeownership, according to a study from the Urban Institute. Urban Institute states that the gap is highest in the Northeast and smallest in the Southwest, however, Hispanic populations are smallest in the Northeast.For example, New York City has the second-highest number of Hispanic households—almost 1.5 million—but they represent only 21% of total households. The Hispanic homeownership gap is notably larger in the Northeast than in other regions of the country.In Utah, for example, Latinos make up 14.2% of the state’s population, according to 2018 U.S. Census Bureau data. That number is believed to be increasing in 2019. The Daily Herald reports that in Utah County, and across the state of Utah, Latino populations are not spread evenly across the state. Abraham Hernandez, Executive Director of Centro Hispano in Provo, Utah, states that Utah Latinos have been spreading out.“Latinos are moving further down south in the county and going up really north in the county to Eagle Mountain,” Hernandez said on The Daily Herald. “We’re seeing a huge bloom of Latino populations in Eagle Mountain, to the point where we’ve actually had people request our services up there.”“They’re weighing their options — do I buy a house, pay a little bit more, but at least I own my house, or do I pay a lot of rent, and maybe it’s not kid-friendly, maybe it’s not enough bedrooms,” Hernandez said. “Particularly when you look at how Latino families are multigenerational homes. You have grandma living there, you have your parents, and obviously the kids, so they need a bigger space.”Two cities in the U.S. have closed the gap: Texas cities Laredo and El Paso. These cities are both majority-minority cities: 77.7% of El Paso’s households and 93.9% of Laredo’s households are Hispanic. Notably, they are also both situated on the US-Mexico border and, as such, are communities with sizeable immigrant populations. In each city, roughly a quarter of the population is foreign-born.The Hispanic population is expected to make up more than half of all net new households in the United States over the next 25 years, and Urban notes that some changes must be made to the financing industry to address the needs of these buyers. Hispanic people on average use more cash than credit when making purchases. A lack of credit history precludes those who might otherwise be mortgage-ready from qualifying for a loan. Related Articles  Print This Postlast_img read more

A sales culture is not the answer

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr by: Ron ShevlinWhat is it with banks’ and (in particular) credit unions’ obsessions with developing, or instilling, a sales culture?Every so often, I run across articles that purport to teach bank and credit union execs  how to create a sales culture in their organization. Interestingly, the articles always presume that the reasons why an FI should have a sales culture is understood and accepted.My take: You don’t need a sales culture. Why not?1) It will take more time and money than you have. Are you so delusional to believe that, after a few training sessions, your employees will magically become, not just good sales people, but sales-driven? Are you so delusional to believe that you can turn a 50-something year-old person into something he or she is not and doesn’t want to be?If you’re committed to instilling a sales culture in your organization, the process will take years as you will need–not might need, but will need–to replace much of your staff. You’re going to have to come to grips with the fact that Betty and Sally who have been with your organization for 30 years now (and who are known and loved by many of the members) are simply never going to adopt nor endorse a sales culture. continue reading »last_img read more

Oxfordshire industrial

first_imgTo access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week. Would you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletterslast_img