![]() "Property disposition strategies that favor investors and Wall Street firms such as auctions, bulk sales, and ‘drop-bid’ trustee sales should be discontinued in markets where there is a strong demand for residential properties," the trade group recommended. In 2012, almost half of homes $250,000 or less were purchased by investors, including Wall Street firms, the report said. The most significant barriers to Hispanic homeownership are government and corporate policies targeted to investors, such as REO-to-rental programs, that have removed affordable housing stock from the owner-occupied market, creating an imbalance in supply and demand, NAHREP said. They will play an increasingly significant role in the nation’s home purchase market, if conditions permit." "Their biggest obstacle now coming into the market isn’t the credit crunch, it’s the lack of available housing to purchase. "Despite a difficult economic environment and a tight mortgage market, Latinos are making gains in all the ways that make them ready for homeownership," said Juan Martinez, NAHREP’s newly elected president, in a statement. In its 2012 State of Hispanic Homeownership report, the trade group said Hispanics have posted gains in jobs, income, education, and household formation that make them ready to drive demand in the housing market, but that scarce for-sale inventory and policies that favor investor buyers are holding them back. ![]() housing recovery into high gear," according to an annual report from the National Association of Hispanic Real Estate Professionals (NAHREP) released today. ![]() Hispanics accounted for more than half of new owner-occupied households last year and have the purchasing power "to push the U.S.
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