The relentless rise of Hispanics in America

From the Federal Government:

The percent share of Hispanics in the total population has been trending upward for the past couple of decades and is projected to continue increasing. From the 2000s onward, this population growth was primarily driven by Hispanics born in the United States rather than those who immigrated here. Prior to the 2000s, Hispanic growth was driven mainly by immigration. The fertility rates of Hispanics are higher than those of other demographic groups – 1.9 for Hispanics vs 1.6-.1.7 for non-Hispanic whites.

This difference results in the percentage of Hispanics continuing to increase over the 2023–33 projections decade. Hispanics are projected to account for 20.2%  of the population in 2033, compared with 17.8% in 2023. The trend is more pronounced for the labor force, with Hispanics being projected to account for 22% of the labor force in 2033, compared with 19% in 2023, 13% in 2003, and 9% in 1993.

Household income of Hispanic households was 70% of non-Hispanic households in 2000, Today the ratio is 77%.

As I recently posted, in 2022, homeownership rates stood at 74% for white Americans, 46% for Black Americans and 49% for Hispanic Americans, according to U.S. census data. But between 2020 and 2040, there will be 6.9 million net new homeowners, a 9% increase, of which 4.8 million more will be Hispanic homeowners, 2.7 million more Asian and other homeowners and 1.2 million more Black homeowners, while white homeownership will dwindle by 1.8 million, the Urban Institute projects. this gigantic shift in home ownership trends is due to the relatively high rate of persons who are not white and who are entering home ownership buying age (roughly 30 years old).

 

 

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