Hispanics surge in Trump economy with record home ownership, income growth

by WorldTribune Staff, April 23, 2019

Hispanics are experiencing historic levels of employment and home ownership under the Trump administration, according to a pair of new surveys.

Latinos’ income is up and poverty rates down in the Trump economy. / Photo by A. Shaer / VOA / Public Domain

Additionally, income is rising and poverty rates are falling, according to the National Association of Hispanic Real Estate Professionals and the Hispanic Wealth Project.

The reports detailed Hispanic housing and economic trends and found most signs better under President Donald Trump’s economy.

According to the Hispanic Wealth Project annual report, Latino median income will triple within the next five years.

The annual report listed the positive trends for Latinos in the Trump economy:

  • Hispanics’ home ownership rate reached 47.1 percent. In 2018, Latinos added 362,000 homeowners which is the highest number of owner households added for Latinos since 2005.
  • In 2017, Hispanics saw the highest income growth of any demographic.
  • Between 2016 and 2017, Hispanics increased their real median income by 3.7 percent. Latino families making an annual income over $200,000 increased from 2.1 percent in 2011 to 3.8 percent in 2017.
  • Poverty rates reached a historic low for Latinos. With a poverty rate of 18.3 percent in 2017, Hispanics reached their lowest level since poverty estimates for Hispanics were first published by the U.S. Census Bureau in 1972.
  • Latinos have significantly higher labor force participation rates. Hispanics are employed at a rate of 66.1 percent, compared to 62.9 percent of the general population.

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