By Insight Tr3s

In our last two posts, we’ve highlighted how Hispanic young adults have been affected by the difficult economy and how they’re behaving differently as a result. Jobs can be tough to come by — and many entry-level positions don’t pay well. As Hispanic young adults seek more solid financial footing, they’re putting off the traditional rites of passage into adulthood like getting married. In the meantime, while focusing on career and money goals, they’re content to continue living at home with Mom and Dad.

Today, 45% of Hispanics 18 to 34 live with their parents, according to the Pew Hispanic Center. They are 18% more likely than non-Hispanic whites 18 to 34 to reside in a multi-generational household. The numbers are even more dramatic among younger, bicultural Hispanic adults 18 to 29: 6 in 10 live with their parents.

One of the key objectives of Tr3s’s 2012 research study, “Hispanic 18-34s Living the ‘Next Normal, ‘” was to uncover new insights about what life is like for Hispanic families with adult children in the household. In her April 30th presentation at the AHAA 2013 Conference in Miami, Nancy Tellet, Senior Vice President of Tr3s Research and Insights, will reveal key findings on this subject. The following are some of Tr3s’s insights about young Latinos who have stayed home into adulthood:

Lack of money and fear of potential catastrophe keeps Hispanic adult children from moving out. For many, leaving home isn’t an option because they can’t afford to. Others have money saved, but anxiety about “something happening” looms large enough to keep them in place.

Most aren’t planning to leave anytime soon. Two-thirds say they might move out more than a year from now — or that they don’t know and will move “when they’re ready.”

They like the closeness, but more privacy would be nice. 4 out of 10 like the togetherness and bonding best about living with their families, and 3 in 10 dislike the disagreements and lack of freedom and privacy the most.

They expect to stay local when they eventually move out. When asked how far away they would like to go when they’re ready to get their own place, the median distance from their parents’ house was 18 minutes. Hispanic young adults are half as likely as non-Hispanics to say they hope to move more than an hour away (16% vs. 30%).

Respect is the key to family harmony. Hispanic multi-generational households with young adult children make it work through respect, which to them means being polite to each other, recognizing it’s a two-way street, and striving for peace and unity.

When they do move out, it’s often to live with a romantic partner. Hispanic young adults are slightly more likely than non-Hispanics to move out of their parents to live with a boyfriend or girlfriend (49% Hispanic, 44% non-Hispanic).

Source: Tr3s 2012 “Hispanic 18-34s Living the ‘Next Normal’”

By Insight Tr3s

Today, the state of the economy is shaping Hispanic young adults’ lives more than anything else. Just as they were entering or approaching adulthood, the global economy went sour, forcing them to behave differently than people of earlier generations as they started their adult lives. College was supposed to lead to dream jobs – but for many, work of any kind can be hard to come by. As we noted in last week’s blog, young Latinos have had it particularly hard: Hispanics 18 to 34 are 25% more likely to be unemployed than non-Hispanic whites, and one in seven Hispanics 18 to 24 is looking for a job but can’t find one. Read the rest of this entry »

By Eric Talbot / Univision Insights

We recently joined DTC Perspectives once again for its annual gathering of healthcare thought leaders at the DTC National Conference. Throughout the event we constantly heard that the consumer is core to everything DTC (direct-to-consumer) marketers do. Mediapost Ad Critic Barbara Lippert said that we should zero in on the insight that gives your message a “human touch.” Marketing Strategist David Meerman Scott suggested that we all focus on “buyer personas” versus product details when building our marketing campaigns. These are reasons why we thought it was important to spend some time talking about how to approach Hispanic consumers with messages relevant to them. The reality is, embracing similarities is as important as celebrating differences. Read the rest of this entry »

By Insight Tr3s

As April 15th approaches, everyone who has earned money this year is making sure they’ve given Uncle Sam his due. As a result, it’s that time of year for reflecting on matters of money — a particular concern for young adults, who have come-of-age during a recession and have been disproportionately affected by it. At an age when previous generations were establishing careers, starting families, and buying houses, today’s young adult is still await the expansive opportunities that were promised to them. For many – Hispanics in particular – those prospects have yet to appear. Read the rest of this entry »

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Women have tremendous spending power in America today—and it’s growing. Market estimates about their total purchasing prowess varies, ranging anywhere from $5 trillion to $15 trillion annually. And the scope of that spending is notably vast. Read the rest of this entry »

By Insight Tr3s

Earlier this month, Hispanics celebrated the election of Pope Francis, the first Latino to hold the papacy. People of Latin origin are driving Catholicism’s worldwide growth, so clearly the College of Cardinals knew their target audience when they chose a South American as the next pontiff. However, while Catholicism is the dominant religion among Latinos, its membership is declining as Protestant faiths attract “very religious” Hispanic young adults. Read the rest of this entry »