Yes, it´s true. People over 55 years of age are prospering across the nation. But so are Latinos - and as one Hispanic investment ace tells us, they are not the only ones, much to the chagrin of the liberal Spanish-speaking media that continue to make a case for an ailing economy about to crash and for Donald Trump to be deep-sixed.
Clara Del Villar, Director of Senior Initiatives at FreedomWorks Foundation and MRC Latino´s Spotlight of the Month, spoke candidly with us about how unemployment rates and economic activity among the 55 and older population are at their highest level in decades. “There’s no question that revenue and income and certainly economic prospects are very solid in that demographic”, she told MRC's Miguel Leal in an exclusive interview.
Yet, as she explains (and Spanish-speaking media love to leave out from primtetime news), expansive economic benefits are reaching the Hispanic community with record unemployment numbers and growing economic opportunities.
MIGUEL LEAL, MRC: It is often said that the economy is benefitting rich, white old men. Do you think that’s the case? If that’s not the case, who else is it benefiting and how?
CLARA DEL VILLAR, DIRECTOR SENIOR INITIATIVES, FREEDOMWORKS FOUNDATION: Well, certainly, that is indeed the case. But happily we´re seeing a very expansive economic benefit trickling down to, and certainly to Latino, the Hispanic community is experiencing the lowest unemployment rate in the history, in the United States. Latino population is being well represented in small and medium sized business category which is roaring along and across a broad spectrum.
However, as good as the stats Del Villar mentioned were - the 4.2% unemployment among Latinos is an historic number -the lack of enthusiasm in reporting this by the nation's Spanish-speaking networks is notable, with even news about Donut Day garnering precious airtime over economic news that is relevant to their primary audience. Go figure.
Another fact, which validates the effect of Hispanics upon the economy and that goes underreported by the press, is the impact of the Hispanic population in the U.S. real estate market, where, according to Del Villar, it is filling a gap left because of affordability.
MIGUEL: Do you think there’s a direct correlation with the unemployment rate and Latinos buying more houses and such right now?
CLARA: Without question Miguel. There is very direct correlation between that going on, and actually at a very good crossroads because home buying activity in the general population, in the middle America category has been slowing down precipitously and because of affordability gaps. So the Hispanic population has filled that gap and is showing a lot of strength.
The investment specialist also mentioned that home buying opportunities are solid in the right geographical areas. “Buying a home, I think for a family, Latinos are leading the way. I think it is still a good investment and certainly a good opportunity for your family.”
Recently, and before the liberal media's economic doomsaying, Telemundo did cover the real estate boom for Hispanics across the nation, a result, in the words of Del Villar, of the economic policies put forth by Donald Trump.
Check out this compilation where Latino nets make a case for a recession:
Regarding the much hyped “upcoming recession”, Del Villar has this to say:
LEAL: What do you think of the yield curve inversion. Should we be scared about a recession?
DEL VILLAR: In this case, I think that it is a technical reaction to fear, that’s going on perhaps abroad. I think the economic policies that this Administration has initiated two years ago, has helped expand and prolong the economic benefits for all of us.
While people may not agree with the current administration, or approve of Trump himself, as Del Villar stated, "we really want everyone to prosper for as long as possible. The revenues that are being generated and the consumer oriented companies are still showing great revenues and earnings right. I think the manufacturing sector is a little troubled there’s no question about that but we have enough consumer power I think to continue our economic strength certainly at the end of this year and into the next one."
We certainly look forward to more coverage of this good news making its way to our domestic Spanish-language newscasts.
For a complete transcript of Miguel's interview, click on “Expand”:
MIGUEL LEAL: What´s going on guys? My name is Miguel Leal for MCR Latino and today I’m being joined by Clara del Villar, who is the Director of Senior Initiatives for FreedomWorks Foundation. Thank you for joining us.
CLARA DEL VILLAR: Miguel delighted to be here today.
LEAL: So Clara, I have a question for you. How is the economy benefitting Americans 55 and over?
DEL VILLAR: Well, basically we’re seeing certainly an unemployment rates and economic activity among the 55 and older population at the highest level that you’ve seen in decades. So, there’s no question that revenue and income and certainly economic prospects are very solid in that demographic.
LEAL: Thank you. Clara, it is often said that the economy is benefiting rich, white old men. Do you think that’s the case? If that’s not the case, who else is it benefitting and how?
DEL VILLAR: Well, certainly, that is indeed the case. But happily we´re seeing a very expansive economic benefit trickling down to, and certainly to Latino, the Hispanic community is experiencing the lowest unemployment rate in the history, in the United States. 4.2% unemployment among Latinos is actually a historical number. And we’re very happy to say that Latino population is being well represented in small and medium sized business category which is roaring along and across a broad spectrum. So I see a lot of activity certainly in women led businesses, women are well represented too. Each economic activity that has been, actually the economic boom has been going on for at least 10-years, it reached the ten-year marker at the end of July so we’ve seen a broad range of activity benefitting everyone.
LEAL: So, do you think there’s a direct correlation with the unemployment rate and Latinos buying more houses and such right now?
DEL VILLAR: Without question Miguel. There is very direct correlation between that going on, and actually at a very good crossroads because home buying activity in the general population, in the middle America category has been slowing down precipitously and because of affordability gaps. So the Hispanic population has filled that gap and is showing a lot of strength.
LEAL: That’s awesome. Clara, and what do you think of the yield curve inversion. Should we be scared about a recession?
DEL VILLAR: Well, you raise a very important point because historically Miguel, an inverted yield curve is certainly alarming to people when they look at the economic environment. But in this case, I think that it is a technical reaction to fear, that’s going on perhaps abroad, there are riots going on in Hong Kong, the Chinese treaty tensions, have certainly caused some stress, Europe is slowing down, you know even had, you might have seen Argentina had a very dramatic fall, a 37% fall in the peso. So that makes people afraid, when they’re afraid they go immediately into bonds. That is, this is not a good time to buy bonds, at 1.5 % ten-year Treasuries are really not offering enough value for an investment opportunity.
LEAL: Gottcha. So what home buying, like should I be worried about buying a house?
DEL VILLAR: I think in the right areas and certainly in the South I think, and across the West, I thing home buying opportunities are certainly solid. I think that with mortgage rate probably approaching all-time lows, I think a home is a good investment. Now, in the urban areas, on the East Coast, on the West Coast, homes are really extremely well priced, if not in some cases overpriced, I don’t see the opportunities there as much as elsewhere. Buying a home, I think for a family, it certainly, you know Latinos are leading the way. I think it is still a good investment and certainly a good opportunity for your family.
LEAL: Gotcha, ok. The last question that I have for you is: Overall the economy right now, do you feel good about it?
DEL VILLAR: I do feel good about it Miguel. I think you know, while it may be controversial in some circles, I think the economic policies that this Administration has initiated two years ago, has helped expand and prolong the economic benefits for all of us. So no matter what one thinks about the Administration, we really want everyone to prosper for as long as possible. The revenues that are being generated and the consumer oriented companies are still showing great revenues and earnings right. I think the manufacturing sector is a little troubled there’s no question about that but we have enough consumer power I think to continue our economic strength certainly at the end of this year and into the next one.
LEAL: Well, I’m so glad you said that because mostly what I hear nowadays is like with the trade wars, that this is going to be really bad and such, so I’m glad that you feel positive about our situation. Clara, is there anything else that you would like to add?
DEL VILLAR: Well, I think that you know, again I would say, I’m really delighted to be associated with the Freedom Works Foundation and as their Director of Senior Initiatives, I’ll be doing a lot of writing on how our senior population is going to be impacted economically and impacting the politics. But I would say people should not get too wrapped up in the political emotion that’s going on, that when you make decisions for your family or for your jobs, I think that there’s still a lot of solid economic strength here to make some happy decisions and not get caught up in political karate that’s going on.
LEAL: I agree with you completely. Clara it’s been a pleasure having you with me today, I hope to talk to you again. Thanks!
DEL VILLAR: Thank you Miguel, this is our first talk, call and I’ll look forward to the next one I thank you.
