For many Hispanic families, the American dream has always meant buying a home, raising a family, and creating a better future for the next generation. As one of the nation’s youngest and fastest-growing communities, many Hispanics are reaching those milestones just as they are becoming harder than ever to afford.
The good news is that we can build more homes, produce more affordable energy, improve infrastructure, and make it easier for entrepreneurs to grow businesses by modernizing outdated regulations, streamlining permitting, and removing unnecessary barriers to investment and innovation.
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Making the dream of homeownership accessible
For generations, owning a home has been at the center of the American dream. Today, however, first-time buyers are running into a brick wall: Seventy-seven percent of American households cannot afford the median price of a new single-family home.
According to the National Association of Home Builders, government regulations add an estimated $93,870 to the cost of a new single-family home. Even modest price increases matter — for every $1,000 increase in a home’s cost, another 116,000 households are priced out of the market.
Homeownership is one of the most important ways to build generational wealth. Cutting red tape to expand housing options, including accessory dwelling units; reducing lot sizes for detached cottages, smaller homes, and other flexible housing choices would help make that goal attainable for more Hispanic families.
Far-reaching impact of energy costs
But housing is only one part of the affordability challenge.
Energy costs affect almost everything families buy, from groceries to construction materials. Hispanic households spend about 42% more of their income on energy than the national average.
Expanding domestic energy production and streamlining permitting can help lower costs while ensuring families have access to reliable energy.
Giving families the childcare support they need — and can afford
Affordability also means giving parents more choices. Much of the childcare debate assumes large daycare centers are the best solution, yet only 14% of Hispanic families say full-time daycare is their preferred arrangement, while 62% would rather have children cared for by parents or relatives.
Too often, public policy favors large providers over smaller, family-based options. Reducing unnecessary regulatory hurdles that do not affect safety, expanding the number of safe in-home providers, and allowing parents to use Health Savings Accounts to help cover childcare costs would give families the flexibility they need.
Flexible and transparent healthcare
In addition to housing, energy, and child care, too many families worry that a single medical emergency could derail years of hard work. That concern is especially real for many Hispanic families, who are more likely to work for small businesses, be self-employed, or experience changes in employment that can make health coverage more difficult to maintain.
Families need a healthcare system that is as flexible as today’s workforce. Greater price transparency, more competition, and the ability to purchase insurance across state lines would help lower costs while making coverage more portable as people change jobs, start businesses, or pursue new opportunities.
Hispanic Americans still reach for the American dream
At its core, affordability is about opportunity. When families who work hard can no longer afford to buy a home, raise children, or start a business, something has gone wrong.
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There is an important truth: Hispanic families recognize the challenges facing America, but they haven’t given up on the American dream.
By increasing housing supply, expanding affordable energy, and giving families more flexibility in child care and health care, policymakers can help ensure that opportunity is within reach for every family.
Judy Pino is the national spokesperson for Independent Women and The LIBRE Initiative.
