The American Dream No More: What Latinos think

Is the American Dream No More? What Latinos think 

Every day, Americans wake up early, go to their jobs, study, tend to their families, and work for the same goal: making their version of the American Dream a reality.  

Latinos are no different: 71% believe in the American Dream, and 42% strongly believe in it, according to the most recent LIBRE Institute poll. After all, many of them know firsthand what it is to live in a country where freedom and prosperity are scarce, and the dream of a better life is just that—a dream.  

If anything, they work even harder to make good use of America’s countless opportunities, as they are more likely to start a business and have higher labor participation rates than the national average.  

Regretfully, while Latinos believe in America, they are pessimistic about its present and near future. Almost nine in every ten Latinos think the American Dream is harder to achieve now than before, and 82% say their children will not have the same opportunities they did.  

That might sound contradictory. How do Latinos deeply believe in the American Dream but also be so pessimistic about it?  

To answer this, we did the same we do in our advocacy efforts: we asked Latinos and listened.  

The American Dream, according to Latinos 

If we want to know what obstacles keep Latinos away from the American Dream, we first need to know what it is.   

Every American has their version of the American Dream, so we asked Hispanics what the American Dream means to them in a word, and these are the topline results we got: 

• 18% of Latinos said freedom  

• 18% of Hispanics said financial security 

• 17% of Latinos said owning a house is part of their American Dream  

• 15% of Hispanics thought of family when asked about their American Dream  

• 15% of Latinos mentioned good paying jobs were part of their American Dream 

Latinos want to work hard, enjoy liberty, and have the stability they need to build a good life for their families.  

You might be putting two and two together on why Hispanics are pessimistic today. If Latinos want to be free, stable, and prosperous, the high prices America’s been suffering these last few years are sure not helping.  

Well, your instincts are correct.  

Inflation makes the American Dream unaffordable 

When asked about their top concerns and their thoughts on the economy, it is no surprise that Hispanics are pessimistic about the current state of the American Dream.  

Latinos think the economy is not working for them. They are tired of inflation, not happy with the economy, and worse off today than four years ago.  

• 49% of Latinos say they are worse off today than four years ago  

• 41% of Hispanics say inflation is among the top two issues most important to them  

• The economy and jobs are a close second, with 34% of Latinos listing it as one of their top two concerns 

• Worries about inflation go beyond party lines: Democrats, Republicans, and Independents all list inflation as one of their top priorities.  

• Inflation and cost of living are the top two reasons Latinos think the American Dream will be harder to achieve in the next generation.  

A quick look at hard economic data clearly shows why Latinos are disgruntled: prices have skyrocketed 19.4% in the last four years, food is 21.5% more expensive, and commuting is much more expensive, and Americans are paying $13,044 more each year to maintain the same living standards as in 2021.  

If that wasn’t enough, studies show inflation hits Latino families harder than the average American household.  

Hispanics believe in America. They believe in this country’s promise and want to work to get there. We only need to give them the tools to transform that belief into reality.