Opportunity/Oportunidad
Homeownership
Latinos Showing Record Growth, Driving For Next Few Decades fter losing 66 percent of their $423 billion in GDP through the A household wealth during housing market alone, according to the Great Recession, Latino NAHREP. U.S. Latinos’ total GDP EXCELLENCE & DEDICATION: Dr. Francisco Delgadillo was selected as one of the inaugural recipients of the Jerry S. Rawls Excellence in Undergraduate Teaching Award. Thanks to my students and ex-students, especially alumni and students who nominated and recommended me! Congratulations from Latino Lubbock Magazine!
homeowners are now showing record growth. Latinos have increased their homeownership rate for six consecutive years, according to a 2020 report from the National Association of Hispanic Real Estate Professionals, a trade group. Latinos are the only demographic in the U.S. to increase their rate of homeownership, which is projected to increase from 49 percent to 51 percent from 2020 to 2040, the nonprofit public policy research organization Urban Institute reported this year. Every other racial group, including white people, is expected to decrease their homeownership rate, it found. “Latinos have an extra proclivity for real estate as a means to build assets,” said Noerena Limón, executive vice president of public policy at the National Association of Hispanic Real Estate Professionals, or NAHREP. “Given that homeownership makes up such a big percentage of wealth, Latinos are going to be integral in driving homeownership growth for the next few decades.” The boom in Latino homeownership is helping to drive the growth of the overall economy. The National Association of Home Builders estimates that housing makes up 15 to 18 percent of U.S. gross domestic product. In 2019, Latinos contributed
amounted to $2.7 trillion in 2019, which is larger than the GDP of countries such as Italy, Brazil and Canada, according to a report released Wednesday by the nonprofit data research organization Latino Donor Collaborative. Limón said there is going to be "a seismic increase in wealth because Latinos play such a big role in driving wealth, given home price
appreciation in the last year and how people build equity in their homes.” Home prices nationwide have surged during the pandemic, with the average price now up by a record 19.7 percent in July compared to the same period last year, according to the latest data from the S&P CoreLogic CaseShiller U.S. National Home Price NSA Index. U.S. Latinos are much younger than other racial demographics, which means there is a larger segment of people in their prime homebuying years, said Jun Zhu, a visiting assistant professor in the finance department at Indiana University–Bloomington and a nonresident fellow with the Urban Institute. Nearly 1 in 3 Latinos is 25 to 44 years old, the age at which people traditionally buy a home, according to the U.S. Census Bureau. They also are buying homes at rates similar to past generations, Zhu said.
IRS Issues Warning as Child Tax Credit Payments Go Out he IRS is half way through IRS is reminding the public to be on T distributing Child Tax Credit the look out for criminals. Payments this year. If you wish to stop getting the
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The third batch of payments went Child Tax Credit Payments, the next out of September 15. opt-out deadline is October 4. Visit The next Child Tax Credit www.irs.gov/credits-deductions/ Payments is scheduled to go out child-tax-credit-update-portal October 15. With the 4th payment coming, the (En español, p. 14) Latino Lubbock Magazine is Hispanic Owned & Operated
Professional Development FREE GED TEST P R E PA R AT I O N CLASSES. Need to study to pass the GED? Literacy Lubbock offers free, flexible, and casual prep classes at various times to fit in with your busy schedule. Call us at 806-7753636 for more information or register for Free classes at www.literacylubbock.org. FREE GED AND ESL CLASSES for Lubbock and the surrounding area offered by Adult Education Center. We accept new students on a bimonthly basis. You must be at least 17 years old and not enrolled in public school to be eligible for the classes. For more info call 806-2815750. Open Mon. thru Fri. from 8 A.M. to 5 P.M. BASIC ENGLISH CLASS – Clase de Inglés – aprender Inglés básico, 3211 58th Street, (east of Indiana) Lubbock. Horas: Cada Miércoles a las 7:30-8:30 de la noche. 806-239-5352 GRATIS!! CHILD CARE AVAILABLE FOR INCOME-ELIGIBLE FAMILIES Families who are income eligible may receive fee assistance to attend one of the Early Learning Center’s five centers for child care. Parents or caretakers must be employed or in school. The program is open from 6:30 a.m. to 6 p.m. Monday through Friday. Call (806) 765-9981 for more information. CLASES DE INGLÉS COMO SEGUNDA IDIOMA La Literacia de Lubbock (Literacy Lubbock) ofrecen clases gratis de inglés como segundo idioma (English as Second Language) para la comunidad. Todos los adultos están bienvenido en estas clases. Para más información, llame a (806) 775-3636. FREE CRIMINAL DEFENSE ATTORNEY: The Caprock Regional Public Defender Office offers free legal representation to 13 surrounding West Texas Counties. The office handles Felony, Misdemeanor and Juvenile cases for citizens that cannot afford to hire a criminal defense lawyer. Call (806) 742-4312 to see if your county qualifies for this service. IMMIGRATION SERVICES If you need help with immigration issues call 806-741-0409. SERVICIOS DE INMIGRACIÓN Si necesitan ayuda con asuntos de inmigración llame a este numero (806) 7410409. REFERRAL FOR QUALITY CHILD CARE in Lubbock by the South Plains Day Home Association helps parents with free referrals to licensed or registered day care facilities that are routinely monitored by the Texas Department and Protective Services. Call 796-0606 or 792-1847 for more information.
