Chinese Immigrants Emerge Unscathed from U.S. Housing Bust

The homeownership rate for most immigrants fell during the U.S. housing downturn alongside native-born Americans. But one group — Chinese immigrants — emerged unscathed.

About 60.3% of Chinese immigrants lived in their own homes in 2011, virtually unchanged from four years earlier, according to data collected by Fannie Mae. The median home value for a Chinese-born owner was $425,600 in 2011, also largely unchanged from four years earlier.

In a report released Wednesday, Fannie Mae economist Michael Cevarr analyzed the five largest immigrant groups, representing almost half the foreign-born population in the U.S.  That overall grouping—Mexican, Chinese, Indian, Filipino and Salvadoran immigrants—saw its median home value fall by 26% during the massive upheaval in the U.S. housing market across those years. Its homeownership rate fell by 2.9 percentage points to 51.5% over the same time period.

For more on this, go to Real Time Economics

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s