Recent studies suggest that the terms Hispanic and Latino could become obsolete in the future.

Both references are widely used for people of Mexican, Puerto Rican, Dominican, Cuban, and other Latin American ancestry, The New York Times wrote. However, a 2013 survey from the Pew Research Center indicated that Hispanics and Latinos prefer to be called by their specific nationality (such as Mexican or Cuban or Dominican) rather than Hispanic or Latino or even American.

There are also who don't have a preference between the Hispanic and Latino pan-ethnic terms. Pew Research Center's 2013 study showed that 50% of Hispanics have no partiality between the two terms, while those who have preferences liked to be referred to as Hispanic rather than Latino by two-to-one.

At the moment, the U.S. Census Bureau does not recognize Hispanic as a race, but as an ethnicity, The New York Times noted. However, another survey from the Pew Research Center posted this month indicates that two-thirds of Hispanics think that their Hispanic background is also a part of their race.

According to The New York Times, Hispanics' sense of identity was affected by diversity, intermarriage, large demographic trends, and the recent outpouring of Mexican immigrants. These trends, such as intermarriage, could influence what Hispanics would call themselves in the future. Currently, one-in-four Latinos marry someone who is not Latino.

"Already two million Americans say they are not Hispanic although they indicate their ancestry includes roots in a Spanish-speaking country. More than likely they are the children or grandchildren of a couple that includes one Hispanic and one non-Hispanic parent," the news outlet further explained.

Aside from these, immigration also plays a part in the growth of the Hispanic community. According to The New York Times, "U.S. births are - driving down the share of the community that is foreign born" and that the chance of speaking the Spanish language diminishes with each U.S.-born generation.

Another recent study from the Pew Research Center showed that few people who are multiracial think that their background is a disadvantage, though majority of them admitted that they have experienced racial slurs and jokes. In addition, about 24% of those surveyed felt annoyed whenever someone makes an assumption on their racial background.

"While multiracial adults share some things in common, they cannot be easily categorized. Their experiences and attitudes differ significantly depending on the races that make up their background and how the world sees them," the Pew Research Center explained in the study.

The survey also indicates that 61% of adults with multiracial backgrounds do not consider themselves as having mixed races. According to the research center, "An added layer of complexity is that racial identity can be fluid and may change over the course of one's life, or even from one situation to another." How these adults describe their racial backgrounds have changed over the years.