Minorities drive household growth, study says
Minorities will account for more than one-third of America's households by 2025 and make up nearly half of first-time homebuyers, according to a study released on Thursday.
The Joint Center for Housing Studies of Harvard University estimated the number of households — which is slightly more than 122 million — will increase by 11.6 million to 13.2 million over 2015-25.
In 2025, 36 percent of households will be headed by minorities, the study said, up from about 31.6 percent in 2013.
Of those, nearly half will be in the 25-34 age bracket that dominates the first-time buyer market.
The study cautioned, however, that the numbers will depend on mortgage availability, given the limited incomes of many minorities.
The age composition of households is due to change. With the aging of the baby boomer generation, the number of households age 65 and older is likely to increase by 10.7 million by 2025, the study said.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- FirstEnergy to build coal waste processing facility in Beaver County
- Small business hangs on fate of Export-Import Bank
- $2-per-gallon gas expected by year’s end, but not in Western Pa.
- Muni bond funds stressed
- Jaguar XJ flagship struggles to keep pace
- Chevy tweaks its truck remake
- 3 vehicles to keep an eye on for 2016
- FedEx faces in-depth probe of bid to buy Dutch express company
- Low fuel pressure may have easy fix
- Insurers: F-150’s aluminum costly to repair
- Trib 30 index slips in July; 29 percent drop makes ATI biggest loser