Betting Big on Ourselves and Our Community
With spring on the horizon, I am hopeful and optimistic. And while these last two years have been tough, on so many fronts, I am proud and humbled of what we’ve accomplished—with your support—in the face of crisis and uncertainty. ¡Gracias!
Your investment has helped us respond to immediate and emergent needs, while simultaneously allowing us to strategize on long-term opportunities to continue our community’s progress. As a result, after engaging in a long and thoughtful process working with our Board of Directors, staff, Affiliate leadership and partners, we are excited to announce that we are embarking on a bold and ground-breaking initiative to boost the Latino homeownership rate from 48% to 60% by 2030. But this will not be an easy task.
We know that COVID-19 and its economic fallout has taken a huge toll on the health and financial stability of Latinos and too many structural barriers continue to impede our community’s ability to fully contribute to the economy and secure financial security. For example, even when employed full time, most Hispanics do not receive benefits like health insurance or paid sick leave. A Latina-headed family has a median net worth of less than a nickel to every dollar of a typical family headed by a white man. Such persistent economic disparities hurt the community and our overall economy.
The moment has never been more critical. Imagine the contributions Latinos could make to the economy if we had a fair and equal opportunity to thrive and participate!
The work of Latinos—often in essential worker roles—is fueling the country’s economic recovery. Our community has higher than average labor force participation, starts businesses at more than double the overall rate, and wields significant purchasing power. And with more than 800,000 young Latinos and Latinas turning 18 each year, we represent a fast-growing number of new American families and households searching for, and establishing, homes in neighborhoods across the nation.
Our vision of adding four million new Latino homeowners by 2030 includes reshaping the homeownership landscape, scaling proven UnidosUS housing and financial empowerment programs and bolstering economic policy efforts. This vision means working deeply with Affiliates and expand our partnerships to include the mortgage industry, realtors, and credit reporting agencies. We must leverage our relationships with financial institutions and federal agencies to come together to change the systems that have kept our families out.
Over the next year you will hear more about our plans for achieving this bold vision. With your continued support, we know we can accomplish amazing, transformative impact for our families.
President and CEO