Tapping the Ethnic Housing Market Essay - 799 Words

XXXXXXXXXXX XXXXXXXXX XXXXXX XXXX Tapping the Ethnic Housing Market Opportunities The Biggest opportunities and challenges that lenders and real estate faced through the three ethnicities surveyed, African American, English Hispanic and Spanish Hispanic, is the feeling of ownership among these segments that is between the 79 and 82% (Table A) of the population surveyed (Hawkins amp; Mothersbaugh, 2010), the lack of knowledge when buying a home, and lack of confidence in the process. Those three facts open opportunities to lenders and real estates to position their products, to better serve each segments needs and desires, trough the appropriate education to the each segment, a superior understanding of it life-style, and†¦show more content†¦Tables B and C, shown their knowledge and confidence over the process is higher among African American, and Spanish Hispanic, this could be product of the path of acculturation this segment have had over the years. The main strategy for African American and English Hispanic will be understand their family values, life experiences and provide the proper tools and education through free seminars in regards of the Lender products and the Real Estate Market alternatives available to them. Spanish Hispanic Spanish Hispanic segment is the largest among the other 3 segments due to the diversity of nationalities as Cuban, Mexican, Puerto Rican, South or Central Americans (Hawkins amp; Mothersbaugh, 2010), are part of this group, they hold the lowest interest rate on buying a home with only a 79% of population concerned on the ownership feeling (Hawkins amp; Mothersbaugh, 2010), likewise only 60% of the population knows that the require documentation is also available in their language, making this segment the least confidence, since only 18% (Hawkins amp; Mothersbaugh, 2010) of the population surveyed understand the process. The strategy here will have put the hardest work, educating and gaining the population trust which is brand loyal, and comprehendible on their-own language (Hawkins amp; Mothersbaugh, 2010).Show MoreRelatedTapping the Ethnic Housing Market1255 Words   |  6 PagesTapping the Ethnic Housing Market Opportunities and Challenges for Housing Lenders and Realtors The tables in the text make it clear that there is a large gap between the minority population and the general population in regard to knowledge and education about the housing market. Housing discrimination and unethical lending practices are at the root of this problem. Housing and communities remain segregated despite all of the progress America has made since the Civil Rights Movement. MinoritiesRead MoreGlobalization and Religion Essay1399 Words   |  6 Pageslines of religious borders are becoming blurred. 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