Millennials are a diverse bunch, but the generation following them will be even more so.
The next generation of homebuyers in the U.S. will be the largest – and most diverse – that the country has ever seen.
That was the key takeaway from a new report by Pew Research, which analyzed the demographic trends for the graduating college class of 2025. The report finds that immigration and second-generation births are predicted to bring a surge of Asian and Latino students to American colleges.
In addition to an increase in ethnic students, there will be also be a decrease in non-ethnic students. The percentage of non-Hispanic white students has declined over the last two decades. In 1995, 73 percent of high school graduates were white; by 2012, it had declined to 57 percent, and by 2025, it is expected to fall to 51 percent.
Interestingly, the enrollment of first and full-time college students has decreased from 2.5 million in 2009 to 2.4 million in 2013. Despite the expected rise of ethnic students, Hispanic students are least likely to pursue full-time college education. That might postpone them from becoming homebuyers once they graduate college. Other factors include the rising tuition rates in public and private universities.