Tuesday, October 16, 2018
Business

Survey finds Hispanics, millennials among those most interested in homeownership

Looking to sell a home soon in the Tampa Bay area? The most likely buyer might be Hispanic.

A new survey by Zillow found that 15 percent of Hispanic respondents said they expect to buy a home in the bay area within the next 12 months. Next likeliest were millennials at 13 percent and white respondents at 12 percent.

For its Housing Confidence Index, Zillow did a nationwide survey of 10,000 renters and homeowners from various age and ethnic groups about their views on homeownership. Hispanics were most in favor of owning a home, with nearly 70 percent of Hispanics in both the bay area and nationally associating homeownership with the American dream.

"For young Americans and Americans of color, the opportunity to own a home is a big part of that dream,'' said Svenja Gudell, Zillow's chief economist. "It is often assumed that homeownership holds little of interest for these groups. … But that's simply not true, and their optimism and determination today will be hugely important to the stability and growth of the housing market tomorrow.''

Nationally, 65 percent of millennials — ages 18 to 34 — value owning a home even more than their parents and grandparents do. In the bay area, 55 percent of millennials feel homeownership is necessary to fulfill the American dream.

Among the bay area racial and ethnic groups surveyed, 50 percent of Asian respondents associated owning a home with the American dream, the smallest percentage of any group. About equal percentages of black and white respondents favor homeownership — 60 percent of blacks and 59.1 percent of whites.

Among the age groups surveyed in the Tampa Bay area, people 65 and older were most likely to associate homeownership with the American dream (65.4 percent) followed by those in the 35-49 age bracket (64.7 percent).

Comments
Five Tampa Bay area men charged in billion-dollar health care scheme

Five Tampa Bay area men charged in billion-dollar health care scheme

Five Tampa Bay area residents are wrapped up in what federal prosecutors are calling a billion-dollar telemedicine rip off.Starting in 2015, the defendants and their pharmacy companies set up an elaborate scheme that fraudulently solicited insurance ...
Updated: 7 hours ago
Cross-Bay Ferry returns Nov. 1 with lower prices and later voyages

Cross-Bay Ferry returns Nov. 1 with lower prices and later voyages

The Cross-Bay Ferry returns Nov. 1 with lower ticket prices and voyages that sail later for dinner-time and evening-out trips to Tampa and St. Petersburg.One-way fares will be $8 for adults — $2 less than during the ferry’s first season two years ago...
Updated: 9 hours ago
Rising mortgage rates push monthly house payments higher

Rising mortgage rates push monthly house payments higher

Buying a house? Rising mortgage rates are pushing monthly payments for the typical U.S. home 15.4 percent higher than they would have been if you had purchased a year ago, Zillow says. Since January, the average mortgage rate has climbed from about ...
Updated: 12 hours ago
Plant City Career Academy works to bridge the gap between high school seniors, companies

Plant City Career Academy works to bridge the gap between high school seniors, companies

The program, which raises awareness of post-graduate jobs for students, may expand across the Bay area.
Published: 10/16/18
Southern Airways launching Tampa-to-West Palm Beach flights

Southern Airways launching Tampa-to-West Palm Beach flights

TAMPA — Southern Airways Express said Tuesday it will launch air service between Tampa and West Palm Beach on Nov. 8, just three days after another carrier discontinues the route.Southern Airways, the third largest commuter carrier in the nation, is ...
Published: 10/16/18
Study: Without Medicaid expansion, poor forgo medical care

Study: Without Medicaid expansion, poor forgo medical care

WASHINGTON — Low-income people in states that haven’t expanded Medicaid are much more likely to forgo needed medical care than the poor in other states, according to a government report released Monday amid election debates from Georgia to Utah over ...
Published: 10/16/18
Report: Uber IPO could put company value at $120 billion

Report: Uber IPO could put company value at $120 billion

NEW YORK — Uber may put forth an initial public offering early next year that values the ride-hailing business at as much as $120 billion, according to a media report. The Wall Street Journal said Tuesday that Uber Technologies Inc. received valuatio...
Published: 10/16/18
Hurricane Michael: Significant crop damage expected in Florida Panhandle

Hurricane Michael: Significant crop damage expected in Florida Panhandle

Hurricane Michael impacted about 1 million acres of field crops and 3.6 million acres of upland forest in Florida, according to the University of Florida Institute of Food and Agricultural Sciences.The most serious damage affects about 200,000 acres ...
Published: 10/16/18
Realignment at Big Bend intersection promises safer traffic flow after construction headaches

Realignment at Big Bend intersection promises safer traffic flow after construction headaches

GIBSONTON – A new north-south road is coming to relieve traffic along U.S. 301, but making way for it promises some short-term traffic headaches for a South Shore region already stymied by congestion.The new road would run more than four miles...
Published: 10/16/18
Clearwater tweaks downtown incentive program

Clearwater tweaks downtown incentive program

CLEARWATER — On the heels of intensive meetings with downtown property owners and potential business tenants, the city’s Community Redevelopment Agency has tweaked its incentive programs designed to attract businesses that would operate...
Published: 10/16/18