The Asian Real Estate Association of America (AREAA) National Convention, held in Las Vegas October 18-20, will gather thousands of real estate professionals to focus on how they can better serve the Asian American and Pacific Islander (AAPI) community. At the event, AREAA will install Tom Truong, of Boston, Mass., as its new national president. The event will feature U.S. Senator Catherine Cortez Masto (D-Nev.), Ryan Serhant of real estate and TV stardom, Tony Award-winning actor BD Wong, former Miss America Angela Perez Baraquio, and CEOs from some of the largest real estate brands in the world.
According to AREAA, the AAPI community has been the largest minority participant in the money mortgage market since 2010, and AAPI are the fastest-growing demographic in the U.S. and Canada, recently topping $1 trillion in purchasing power, making the group the 17th largest economy in the world. Despite being typically well-positioned for homeownership, AAPI homeownership still lags behind the national average by 6.3 percent (58 percent to 64.3 percent) and non-Hispanic whites by 14.9 percent (72.9 percent), presenting a huge opportunity for housing professionals interested in serving this dynamic growth market.
Las Vegas has a significant AAPI population, with 8.8 percent of the city identifying as such. Las Vegas AAPI have a 61.5 percent homeownership rate, have the highest rate of employment of any demographic between 16-64 (68.6 percent) and earn 116 percent of the city’s median income. Forty-two percent of AAPI households in Las Vegas earn over $100,000 per year.
AREAA’s National Convention will take place at the Aria Resort & Casino.
For more information please visit www.areaa.org.
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