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. Also, in 2007, there were 4.3 million U.S. births, the most since 2007.
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.