Minorities Drive Household Growth, Study Says

A new report predicts that minorities will be a driving force in U.S. household formation by 2025, accounting for almost half of all first-time home buyers. Harvard University’s Joint Center for Housing Studies says the share of households headed by non-whites will jump to 36 percent in 2025 from roughly 31.6 percent last year. Of those, it adds, about half will fall into the 25-to-34-year-old age bracket that dominates the first-time buyer segment. The center notes that the actual numbers will hinge on access to home financing. | Read More