TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Minorities drive household growth, study says

AP
In this Thursday, Jan. 9, 2014, photo, a for sale sign hangs in front of a house in Mount Lebanon, Pa. The National Association of Realtors reports on existing-home sales in January on Friday, Feb. 21, 2014. (AP Photo/Gene J. Puskar)

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

'American Coyotes' Series

Traveling by Jeep, boat and foot, Tribune-Review investigative reporter Carl Prine and photojournalist Justin Merriman covered nearly 2,000 miles over two months along the border with Mexico to report on coyotes — the human traffickers who bring illegal immigrants into the United States. Most are Americans working for money and/or drugs. This series reports how their operations have a major impact on life for residents and the environment along the border — and beyond.

By Reuters
Friday, June 27, 2014, 12:01 a.m.
 

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. FirstEnergy to build coal waste processing facility in Beaver County
  2. Small business hangs on fate of Export-Import Bank
  3. $2-per-gallon gas expected by year’s end, but not in Western Pa.
  4. Muni bond funds stressed
  5. Jaguar XJ flagship struggles to keep pace
  6. Chevy tweaks its truck remake
  7. 3 vehicles to keep an eye on for 2016
  8. FedEx faces in-depth probe of bid to buy Dutch express company
  9. Low fuel pressure may have easy fix
  10. Insurers: F-150’s aluminum costly to repair
  11. Trib 30 index slips in July; 29 percent drop makes ATI biggest loser