REASON #3 - Immigrants
According to a recent Harvard study, immigrant populations were responsible for 45 percent of all rental growth between the years of 1994 and 2004. For this reason, immigrants have become a major force in the investment market.
Since the 1960's, the number of immigrants has continually grown in the United States - with each decade. In the 1900's alone, 10 million immigrants entered the United States, and those are just the legal ones. The Hispanics population, account for nearly half of the immigrant number. As of 2006, the United States has continued to accept more immigrants into its borders, than the entire world combined. Between 1990 and 2000 the immigrant population in the United States rose by 57.4 percent according to the U.S. Census. And immigration is expected to continue growing in the next decade.
According to the U.S. Census, only 34.9 percent of non-citizen residents are homeowners. The remaining 65 percent of the immigrant households - are renters. What this means, is that by the year 2010 - an estimated 26.3 million immigrants will be paying rent somewhere. Add this to the 52 million echo boomers, and 14.8 million baby boomers who are considered renters, and by doing so - you now have an estimated 93 million renters will be added to the market over the coming years.
Numbers like that simply can't be beat in any other sector of the real estate market. For this reason, immigrants is a valuable consideration as reason number three.
According to a recent Harvard study, immigrant populations were responsible for 45 percent of all rental growth between the years of 1994 and 2004. For this reason, immigrants have become a major force in the investment market.
Since the 1960's, the number of immigrants has continually grown in the United States - with each decade. In the 1900's alone, 10 million immigrants entered the United States, and those are just the legal ones. The Hispanics population, account for nearly half of the immigrant number. As of 2006, the United States has continued to accept more immigrants into its borders, than the entire world combined. Between 1990 and 2000 the immigrant population in the United States rose by 57.4 percent according to the U.S. Census. And immigration is expected to continue growing in the next decade.
According to the U.S. Census, only 34.9 percent of non-citizen residents are homeowners. The remaining 65 percent of the immigrant households - are renters. What this means, is that by the year 2010 - an estimated 26.3 million immigrants will be paying rent somewhere. Add this to the 52 million echo boomers, and 14.8 million baby boomers who are considered renters, and by doing so - you now have an estimated 93 million renters will be added to the market over the coming years.
Numbers like that simply can't be beat in any other sector of the real estate market. For this reason, immigrants is a valuable consideration as reason number three.
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