A casa propia: The American Dream starts with a place to call home

For many Latino families, tener tu casa propia is a big part of their American Dream.

There’s no bigger reward than knowing that the place where you celebrate your kids’ birthdays and your family gathers for a meal every Sunday is a home you can truly call your own.

But for too many families today, that dream feels further away than ever.

If you’re trying to buy a home, prices are rising faster than your income.

And for those who already own a home or are renting, pagar el mortgage or pagar la renta is becoming a heavier burden by the day.

We all know housing shouldn’t feel so out of reach for hardworking Americans. The question is: How did buying a home become so expensive, and what can we do to bring housing prices back under control?

America is facing a housing crisis

There’s no getting around it: America is facing a housing crisis, and families are struggling to find a home they can afford.

A recent CNBC survey found that housing costs have become one of the top issues for younger voters. Latinos aren’t strangers to this crisis. According to a recent poll from The LIBRE Institute, the rising cost of housing is at the top of their list of concerns.

These findings should raise alarms in Washington.

When families can’t afford to buy a home, it becomes harder to build wealth, put down roots, or pass something on to the next generation.

America’s housing crisis is one we can’t afford to ignore.

Why does buying a home feel impossible today?

The answer isn’t that Americans suddenly want bigger homes, are working less, or that a small group of greedy corporations is hiking the prices.

The biggest problem is that we’re simply not building enough homes to keep up with demand.

To be specific, America is facing a shortage of 4.7 million homes.

Government red tape is a big reason for this gap.

When a developer tries to build a new neighborhood, they can spend years waiting for permits, environmental reviews, and local approvals before construction can begin.

As a result, we have fewer homes available than we should. It’s simple economics: When demand is greater than supply, prices go up.

As fewer homes are built, more families compete for the limited homes that are available, driving prices even higher.

Fortunately, there is a way out of this crisis.

Build more homes, restore the American Dream

The solution to America’s housing crisis starts with building more homes.

To do that, lawmakers (at both the state and federal level) must focus on tearing down the many barriers that are making it harder to build the new homes we need.

That includes:

• Reforming outdated zoning laws that limit where and what types of homes can be built.
• Streamlining the permitting process so new housing projects aren’t delayed by unnecessary red tape.
• Reducing burdensome regulations that drive up construction costs and ultimately raise prices for homebuyers.
• Encouraging more housing construction so supply can keep pace with the needs of growing communities.

To be clear, these solutions won’t solve the housing crisis overnight.

It took decades of red tape and bureaucracy to create today’s shortage. And it will take time to fix it.

But removing barriers that needlessly stand in the way of new housing will help gradually bring prices under control.

A home of your own shouldn’t be out of reach

The American Dream has always been about creating a better future for yourself and your family. For generations, owning your home has represented an important part of that dream.

Latinos have always strived for a place to put down roots, build memories, and create opportunities for the next generation.

That dream is worth fighting for.

Every family deserves the chance to build a future in a place they can truly call their own. That dream shouldn’t depend on whether government red tape has made housing scarce.

Join LIBRE today and help keep the American Dream alive for the next generation.