The National Association of Hispanic Real Estate Professionals strongly endorses President Obama’s choice of San Antonio Mayor Julian Castro as Secretary of Housing and Urban Development, and believes that prompt congressional confirmation will provide benefits for the housing market and the national economy. NAHREP is a trade association dedicated to supporting Hispanics in the housing industry and is comprised of 21,000 members in 40 chapters around the United States.
Julian Castro was elected mayor of San Antonio in 2009 and reelected in 2011 with more than 82 percent of the vote, and at 39 is the youngest mayor of a top-50 U.S. city. He first appeared on the national political spotlight at the Democratic National Convention in 2012, where he became the first Hispanic to deliver its keynote address. Castro’s identical twin brother, Joaquin, is a member of the U.S. House of Representatives for Texas’ 20th congressional district, which includes San Antonio.
“Julian Castro is the grandson of immigrants and exemplifies the American Dream,” says NAHREP President Jason Madiedo. “Under his leadership San Antonio has become an economic powerhouse ranking first in the Milken Institute’s 2011 Best Performing Cities Index. He is exceedingly qualified to follow the outstanding work of Secretary Shaun Donovan and lead HUD at a time when the housing market is still in recovery,” Madiedo says.
“Latinos are the primary drivers among new homebuyers but remain an underserved segment of the housing industry,” says Gary Acosta, co-founder and CEO of NAHREP. “Having a HUD Secretary that comes from the community and who clearly understands the importance of the Latino market is significant,” Acosta notes. Citing NAHREP’s 2013 State of Hispanic Homeownership Report released in April, he says, “Since 2010, Hispanics have accounted for a net increase of 559,000 owner households, representing 56 percent of the total net growth of owner households in the U.S. Their purchasing power is estimated to grow to $1.5 trillion by 2015, a $500 billion increase from 2010,” he says.
“The faster Congress approves Julian Castro as HUD Secretary, the better it will be for the economy and all Americans,” Acosta adds.
The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in San Diego, NAHREP is the nation’s largest trade organization for Hispanics with more than 21,000 members in 48 states and 40 affiliate chapters.