PUTNAM POSTING: Hispanic Community Growing in Putnam County: Is Your Business Ready?
Jennifer Maher | November 2019
NAHREP, the National Association of Hispanic Real Estate Professionals, held a signature event at the Putnam County Golf Course on November 8. With more than 200 attendees, the evening was a huge success.
According to its website, “Nosotros somos the National Association of Hispanic Real Estate Professionals—We are The Voice for Hispanic Real Estate and proud champions of homeownership for the Hispanic community. Homeownership is the symbol of the American Dream, the cornerstone of wealth creation and a stabilizing force for working families. Our role as trusted advisors and passionate advocates is to help more Hispanic families achieve the American Dream in a sustainable way that empowers them for generations to come.”
Kisha Riviezzo, of J. Philip Real Estate and board member of the newly formed Putnam Chapter of NAHREP, said, “My hope as a member of NAHREP is to educate and advocate for the Hispanic community. Our goal is to be their voice, to make sure they are being treated fairly in all real estate transactions. For me personally, it’s going back to my family roots and giving back to my community.”
This is good news. Putnam County has a small but mighty Latino and Hispanic population that are hard-working and family-oriented. Home ownership remains less than 50% (47.4%) for Hispanics, which is much lower than the 73% rate of non-Hispanic whites. However, Hispanic homeowner buying power is set to rise. According to data collected by UnidoUS, a non-partisan Hispanic advocacy group, the median income of Hispanic households grew from $46,000 to $60,000 between 2007 and 2017. And, according to the Urban Institute, Hispanics will comprise 56% of all new home buyers by 2030.
The great division that exists in our county and across the nation could mean a lot of small businesses miss out on this potential income from the Hispanic community. It is good business to learn about the Hispanics in your neighborhood. The term “Hispanic” itself is quite broad. Get to know their culture. In business as well as in life, a little diversity goes a long way.
The next meeting of the Putnam chapter of NAHREP will be in February, time and location to be determined.