Modular homes are going to reshape the future of affordable homes in Chicago as Latin buyers pick them up.



Chicago (WLS) – Modular homes have the potential to become the future of affordable homes in Chicago, and David Mata was one of the first buyers to buy in Chicago’s Back of the Yards neighborhood.

“It’s just great, there is no place like a home,” Mata said recently. “It’s a very nice house, it’s really nice.

At 26, Mata has full custody of her younger brother. According to Mata, her father died of Covid-19 in November and her mother lives in Mexico taking care of her grandmother.

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So in June, Mata decided to buy a house instead of spending money on renting an apartment.

“Honestly, I did more for my brother, so he could have a nice house,” Mata said. “He likes that.”

When it comes to buying a home, Latin Americans, especially young Latin Americans, are shaping the future, and the citizens of Chicago take advantage of opportunities and programs to help them afford a home. in the city. I am.

Mata’s Home is the first modular home built by a resurrection project supported by Mata as part of a homeownership program.

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According to Raul Reimund, CEO and co-founder of The Resurrection Project, Mata bought the house for $ 255,000, but also received a total of around $ 30,000 in grants and down payments.

“Our vision is to build hundreds on the west side and the south side with our partners, especially in the Hispanic and black communities,” said Raymund. “Modular homes are high quality homes. A new concept that is energy efficient and can be produced on a large scale.

Latin owners like David Mata are the future. Despite pandemics and unemployment, only Latin Americans increased homeownership for the sixth year in a row, according to the 2020 Hispanic Home Ownership Report.

Reimundo of the Resurrection Project said modular homes are produced on a large scale and are more affordable than building them on site. He said the organization caters to working families with an annual income of $ 60,000 to $ 80,000 who learn responsible home ownership through the program.

He said this benefits both buyers and the communities they target, especially those with vacant and unused land.

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“You unlock boredom. They were empty and sometimes full of rubbish. Now you have a brand new home with a new neighbor who promises to join the community, ”Raymund said. Noted.

Raymundo described this process as a way to “revitalize the community, not just the owners”. But that will also take time. Raymundo believes that this vision may take years, even ten years or more, to transform economically sound homeowners into a vibrant and prosperous community. to augment.

Rather than putting modular homes on the market, Raymundo said the resurrection project helps potential buyers explore organizations, learn about responsible home ownership, and analyze their finances.

“There are over 10,000 vacant lots throughout the city of Chicago. Can you imagine if all of these plots had modular homes? Said Reimund.

Indeed, the number of Hispanic homes is skyrocketing. Between 2020 and 2040, 70% of new owners will be Latinos. Urban Institute..

Joseph Lopez, Executive Secretary of Spain, said: Union for Housing.

Lopez said potential owners should consider the following:

  • Meet with a housing advisor
  • Understand your financial situation and your credit
  • Learn About Buying a Home
  • Preparation of the deposit
  • * Maximize programs such as grants and down payment support

    “Our team will work with prospective home buyers to understand their financial situation and their willingness and willingness to own and benefit from the program,” said Lopez. “The owners have access to resources. We continue to ensure that our advisory team builds these relationships. “

    Spain’s housing union recently helped Chicagoer Jonathan Sansen, 27, who bought a one-bedroom condo in Rogers Park last year.

    “I went into the program and finished it, which was $ 2,000, they helped me out,” Sancen said.

    Buying an affordable home now is an important issue, but just as important is allowing Latin Americans to stay in their homes during a pandemic. In other words, you can pay the rent and the mortgages.

    Spain’s housing union and Project Resurrection are supporting families with increased rent assistance during a pandemic facing challenges such as unemployment.

    “By providing rental assistance to these families, we can not only get them back on track, but also help the homeowner protect their homes,” Raymund said.

    So, do the Chicagoers pay rent?

    After all, having an affordable home is worth it, especially for David Mata and his younger brother.

    “It means a lot to me. I know it means a lot to my brother,” he added in Spanish, “Sí se puede!

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    Modular homes are going to reshape the future of affordable homes in Chicago as Latin buyers pick them up.

    Modular homes are going to reshape the future of affordable homes in Chicago as Latin buyers pick them up.


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