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3 Million New Home Owners Could be on the Horizon

The National Association of Hispanic Real Estate Professionals estimates that immigration reform could bring an estimated pool of 3 million new home owners into the market. The nonprofit trade association estimates that current legislation proposing to give legal status to some immigrants has the potential to generate $500 billion in real estate transactions over a five-year period.

 

Current legislation calls for the legalization of some 11 million undocumented immigrants who arrived in the country before Dec. 31, 2011.

 

“Foreign-born householders have a high value and strong desire for home ownership,” says Juan Martinez, NAHREP president. NAHREP leaders have been advocating for immigration reform that would create a path to citizenship for undocumented immigrants.

 

NAHREP research projects that home purchases made by 3 million legalized immigrants could pump about $180 billion in additional consumer spending into the economy.

 

“Immigration reform would unleash pent-up demand for home ownership by millions of undocumented immigrants,” says Alejandro Becerra, a former senior housing fellow and researcher. “It would help re-establish home ownership as a driving force in building wealth and accelerate the recovery of the nation’s economy.”

 

Keller Williams Lake Nona’s KW Español division has agents who specialize in finding the perfect home and helping home owners sell their current home for those whose first language is Spanish. For more information, call our office at 407-207-0825 or visit our website.

 

Source: National Association of Hispanic Real Estate Professionals

 

New home Owner

Media Contact: Victoria Melendez doc@kwnona.com

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