A stream of eager fans awaiting glimpses of stars on the red carpet for Sunday’s Emmy Awards intersected with our path into this year’s Real Estate & Marketing Conference for the National Association of Hispanic Real Estate Professionals (NAHREP) held at LA Live. Rob Chrane was at the event to speak on a panel about technology and social media in real estate, but we also learned some new lessons of our own from this dynamic group. After the spending the last few days in Los Angeles, we think we know how NAHREP came up with the conference name: “Putting the Dream Back in Homeownership”
Despite being disproportionally hard hit by the Great Recession, research shows that Hispanics hold a more optimistic view of their financial future than the general population. In fact, according to Fannie Mae’s National Survey findings on Hispanics from 12/12/09 through 10/04/10, 61%, they expect their financial situation to improve over the next year compared to 41% of all Americans. What’s astounding is that the optimism of Latinos shines through even at lower income levels.
In the wake of the housing crisis, Hispanics suffered much higher levels of foreclosures than the general population. One contributing factor is clear: Nationally, subprime loans were issued 2.3 times more often to Latino borrowers than to non-Hispanic White borrowers. keep reading