By Agatha So, Policy Analyst, UnidosUS
On September 5, the president announced that he would rescind the Deferred Action for Childhood Arrivals (DACA) program. Since 2012, DACA has provided hundreds of thousands of undocumented youth with opportunities to get an education and a good job without fear of deportation. The president’s announcement suddenly placed the lives of nearly 800,000 workers, students, and homeowners in the United States in limbo. Now, gains that these young immigrants were able to make due to the program are in jeopardy.
Homeownership is one of the many gains DACA recipients have achieved since the program began. In a 2015 survey of more than 1,700 DACA recipients, more than half reported getting their first credit card, and 12 percent had a mortgage or had their name on their family’s lease. DACA opened up opportunities for young immigrants to establish a formal record of work and credit history with a social security number, which they used to help them qualify for a loan to buy their first home. For DACA homeowners, their first home purchase was a dream shared by their families, and an important step towards financial stability and building family wealth.