Markets & Economy

NAHREP: Institutional investor activity taking outsized toll on Hispanic homebuyers

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Hispanics have powered more than half of the growth in homeownership in recent years, but a severe shortage of for-sale homes exacerbated by a flood of institutional investors significantly constrained Hispanics' contribution to homeownership growth in 2013, according to the National Association of Hispanic Real Estate Professionals (NAHREP). "This is a story of potential," said Jason Madiedo, president of NAHREP. "Latinos are ready to buy homes now. Their biggest obstacle coming into today’s market isn’t credit -- it’s lack of available housing." Hispanics accounted for an increase of 2.6 million owned households between 2000 and 2013, or 47 percent of all homeownership growth in the U.S., according to NAHREP’s 2013 State of Hispanic Homeownership Report. From 2010 to 2013, Hispanics' share of homeownership growth was even higher, with 56 percent of homeownership growth attributable to Hispanics, the report found. But Hispanics' contribution to owner household grow...