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 Black Stats  
Frequently requested data on African American consumers

Black Buying Power:
 $836 Billion (2010)

Black U.S. Population:
 41.1 million

Top Five Black Cities
 - New York
 - Chicago
 - Detroit
 - Philadelphia
 - Houston

Top Five Black Metros:
 - New York-New Jersey
 - Washington-Baltimore
 - Chicago-Gary
 - Los Angeles
 - Philadelphia

Top Five Expenditures:
 - Housing $203.8 bil.
 - Food $65.2 bil.
 - Cars/Trucks $29.1 bil.
 - Clothing $29.3 bil.
 - Health Care $23.6 bil.
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Fannie Mae study: Blacks the most optimistic group on home ownership

(February 28, 2011) Fannie Mae's latest national housing survey finds that Americans are more confident about the stability of home prices than they were at the beginning of 2010, even though they lack confidence in the strength of the economy.

Seventy-eight percent of respondents believe housing prices will hold steady or increase over the next twelve months, up from 73 percent in January 2010. However, almost two-thirds still believe the economy is on the wrong track, virtually unchanged (61%) from the beginning of last year.  

The Fannie Mae Fourth Quarter National Housing Survey, conducted between October 2010 and December 2010, polled homeowners and renters to assess their confidence in homeownership as an investment, the current state of their household finances, views on the U.S. housing finance system, and overall confidence in the economy.

African-Americans, Hispanics and younger Americans are generally more positive about owning a home than the general population.  More than one-third of African Americans (35%) and Hispanics (34%) say they will buy a home in the next three years, compared to only one in four (23%) of all other Americans. 

Fifty-nine percent of Generation Y (ages 18-34) believes buying a home has a lot of potential as an investment, even though this age group suffered the steepest decline in homeownership during the housing crisis -- from nearly forty-four percent when home prices peaked to under forty percent in 2009.

"Over the course of the last year, we gained deeper insights into Americans' confidence in the strength of the housing market and the economic recovery," said Doug Duncan, Vice President and Chief Economist of Fannie Mae.  "More Americans believe that housing prices will remain stable over the next year.  We also are seeing encouraging signs in the positive attitudes toward homeownership among younger Americans, despite the severe impact of the housing crisis on Generation Y.  But most respondents to our survey continue to lack confidence in the strength of the economic recovery, and they are less optimistic about their ability to buy a home in the years ahead.  This sense of uncertainty is weighing on the housing recovery today and reshaping expectations for housing for the future."

The percentage of Americans who believe that buying a home is a safe investment declined to 64 percent over the course of the year, from 70 percent in January 2010.  This is down sharply from a similar survey conducted in December 2003, when 83 percent of the general population thought buying a home was a safe investment.


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New 'Buying Power' report: Black consumers spend as economy grows
Details $507 billion in expenditures

African-American consumers are cautiously increasing their spending in some key product categories, even as they continue to make adjustments in a slowly growing economy. The finding comes from the 16th annual edition of "The Buying Power of Black America" report published by Target Market News.

In 2009, black households spent an estimated $507 billion in 27 product and services categories. That's an increase of 16.6% over the $435 billion spent in 2008. African-Americans' total earned income for 2009 is estimated at $836 billion...

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