Latinos in Ca. are the majority

Latinos in Ca. are the majority

BY ROB CHRISMAN from mortgage news daily

“If you don’t think the nation is changing, think again.California’s Latino population is going to overtake the white population in only two months, according to this year’s state budget report. And the GoldenState is also getting older, with the population of over 65s predicted to hit a boom over the coming months (1,000 people out there turn 65 every day). The state has been getting more diverse for a while, but now the Latino population will be ‘the single largest race or ethnic group’, and it’s thought to be because most Latino groups are in their prime childbearing years. According to the 2013-2014 report, by March Latinos will make up 39 per cent of California’s population of 38.2 million and outstrip the white population by 76,000; non-Hispanic whites will make up 38.8 per cent.”

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Pending Sales down again

Pending sales down in December

BY JANN SWANSON  Mortgage New Daily
“Perfect Storm” Kept California Buyers Home in December
Jan 24 2014, 12:02PM

“Pending home sales in California plummeted in December, falling 25.2 percent because of what the California Association of Realtors® (C.A.R.) called “a perfect storm” of circumstances.  The Realtor group said a shortage of homes for sale, rising interest rates and higher home prices sidelined many prospective buyers and drove pending sales down for the second straight month.

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Minority lending way down

Minorities are getting the fuzzy end of the lollypop.

From 2004 to 2012, home lending nationwide fell 37 percent for whites, but that was modest compared to the 158 percent drop for Hispanics and the 187 percent plunge for blacks, said Compliance Tech Managing Director Maurice Jourdain-Earl, who’s set to give a presentation on the loan disparity issue before the U.S. Department of Housing and Urban Developmenton Jan. 28.

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