In the wake of a housing downturn that pummeled Hispanic wealth, the National Association of Hispanic Real Estate Professionals (NAHREP) has released a plan for tripling the demographic’s net worth in the next 10 years.

In the wake of a housing downturn that pummeled Hispanic wealth, the National Association of Hispanic Real Estate Professionals (NAHREP) has released a plan for tripling the demographic’s net worth in the next 10 years.

Hispanic household wealth was disproportionately impacted by the real estate bust, plunging by two-thirds between 2005 and 2009, according to the Pew Research Center. By comparison, household wealth among whites fell by only 16 percent during the same period.

The median household wealth of Hispanics today is $13,700, less than 10 percent of the median non-Hispanic white population, according to the NAHREP.

The goal of the “Hispanic Wealth Project Blueprint” is to rally individuals, corporations, government and other organizations around closing that gap.

“When a sector as large and important as the Hispanic community grows its financial capability and success, the strength and well-being of our overall economy is also positively affected,” said Dan Gilbert, chairman of Rock Ventures and Quicken Loans, which is a partner in the effort.

The three goals of the project are to achieve the following over the next decade:

  • A 50 percent or higher rate of U.S. Hispanic homeownership.
  • Boost by 50 percent the first-year success rate of Hispanic-owned small businesses.
  • Increase by 25 percent the number of Hispanic households owning noncash financial assets, such as stocks, bonds, mutual funds and 401(k) accounts.

“The blueprint offers actionable ideas, and invites support and participation from individuals, corporations, government, academia and other nonprofits,” said Henry Cisneros, chairman of the advisory board for the Hispanic Wealth Project.

NAHREP will recognize initiatives conducted by coalition partners that support the blueprint, and produce annual reports and symposiums to review and accelerate the project.

Email Teke Wiggin.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×