National Association of Hispanic Real Estate Professionals' Hispanic Wealth Project has received the support of an American multinational financial institution, which posseses a $125 billion lending goal, helping to increase the number of Hispanic home mortgage consultants, support financial education and counseling, and triple Hispanic household wealth over 10 years.
Economic recovery has been on the horizon for some time now: full-time employment is up, unemployment is down, and wages have corrected following the recession to meet the needs of young adults in the labor market. Nonetheless, millennials continue to take up residency with their parents, according to a recent Pew report. This is particularly true for many young Hispanics, who are "unbanked" or "underbanked."
The thriving U.S. Hispanic population is earning more and gaining influences amid the mainstream, but home ownership for the community has dipped. Could this be due to cultural spending habits and an aversion to acquiring credit?
