Wednesday, June 12, 2024

New Poll Reveals Latinos Optimistic about achieving American Dream but concerned with Housing Market

The results of a current tracking poll on Latinos and their perspective on the American Dream released today shows that most of them remain optimistic about achieving “the dream,” with most of the respondents expressing they had already reached it or expect to reach it in their lifetime.

The poll was conducted by impreMedia, the leading Hispanic news and information company, and Latino Decisions, a leader in the field of Hispanic polling.

“This poll indicates that Latinos are trying to be optimistic about their place in the U.S. and their ability to achieve the American Dream” Monica Lozano, CEO of impreMedia, said.

While 72 percent of those surveyed expressed they had achieved the American Dream or expected to reach it in their lifetime, the poll also found a shift in attitude towards homeownership among Hispanics, which has long been held as an integral part of achieving the dream.

Less than half of those surveyed, 47 percent, agreed that owning a home is part of the American Dream and 40 percent said it was not.

“Renters and homeowners alike are draining their savings. They are likely feeling a high level of anxiety over their ability to maintain their housing, and most people surveyed expressed approval for stronger action by state and federal governments with regards to the housing market.”

The shift in attitude may be the result of the housing crisis during the recession, in which Latinos were disproportionately impacted and homeownership among Latinos fell to an all time low of 46.8 percent, as reported by La Plaza.  When posed with the question “who do you trust more to make the right decisions and improve housing conditions,” 59 percent of the respondents answered President Obama and the current administration. Only 14 percent said they could trust banks and financial institutions.

“While they do hold a strong sense of trust in Obama and the Democrats, current legislation being considered by Congress as a whole to eliminate foreclosure prevention services could have a disastrous effect.”

Other findings included 83% strongly or somewhat approved of extending additional tax credits for first time home buyers; 75% strongly or somewhat approved of providing mortgage payment assistance to homeowners who have recently lost their jobs; and 70% said access to bilingual materials was a serious need when asked if banks should be required to provide all financial documents in both English and Spanish.

The polling was conducted by Latino Decisions, which surveyed 500 registered voters between March 24th and April 2nd in 21 states with the largest Hispanic populations, comprising 94% percent of the US Hispanic electorate.  Bilingual interviewers conducted phone interviews in English and in Spanish at the discretion of the respondent.

impreMedia-Latino Decisions

Sun Herald