Hispanic Homeowners Investing in California Homes in Record Numbers

“California was once part of Mexico before achieving statehood in 1850. Now, according to the research of Professor Dowell Myers of the University of Southern California, the five most common surnames of homebuyers in California in 2005 were all Hispanic. These names include: Rodriguez, Lopez, Martinez, Garcia, and Hernandez. In Professor Myers’ new book, “Immigrants and Boomers: Forging a New Social Contract for the Future of America,” he makes a case that the future of America’s future economic health well-being are intimately connected with immigrants, especially those coming from Mexico, Central America, and South America.

The immigration debate has long been a contentious one in this country, and, despite anti-immigrant rhetoric and legislation, immigrants continue to play an ever-growing role in the economy and culture of this country. Henry Cisneros, former secretary of Housing and Urban Development, and current Executive Chairman of City View, had this to say about the book in a pre-release review provided by the book’s publisher, “Dowell Myers has described a future full of hope, if as a nation we are able to understand the power of immigration, to reach understandings about our mutual societal responsibilities, and to unleash the full capabilities of immigrants who want to contribute to American society.”

According to Patrick McGilvray, J.D., President of www.TheHomeBuyingCenter.com, “Our nation has been always been dependent on the energy and dreams of immigrants from our earliest days. Many of the people who buy homes from my team of investors across the country are first or second generation immigrants from Mexico or other Hispanic countries. We are very honored to help them achieve their dreams of homeownership in the United States, and we take the long view that they, their families, and their work ethic will enrich America in tremendous ways.” California’s residential real estate markets, battered in recent months after a spectacular run-up in prices in the early years of this decade, may be very thankful for Hispanic immigrants whose purchases may help shore up the slumping residential housing sector. This trend may even change the minds of those opposed to immigration and immigrants in general, but this cannot be taken for granted because there has always been as much short term opposition to immigrants and immigration, legal and illegal, as there have been positive long-term effects of their presence.”

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