AAPI Housing Data

Prepared by: Korean churches for Community Development

AAPI HOUSING DATA

Source:h*p://mn.gov/capm/pdf/A-Community-of-Contrast.pdfh*p://www.census.gov/

AAPI-LosAngelesCountyHomeownershipRateComparableorLowerthanBlackorHispanicCommunity

DatafromAsianAmericanJus1ceCenter,U.S.CensusBureau

69%

60%59%57%54%53%52%52%51%51%50%50%48%48%

44%43%42%42%40%40%40%39%36%36%

33%32%31%30%30%

11%

0%10%20%30%40%50%60%70%80%

Taiwan

ese

Japa

nes

Chinese

White

Burm

ese

Vietna

mese

Filip

ino

SriLan

kan

AsianAm

erican

Fijian

Indo

nesian

Thai

TotalPop

ula1

on

Malaysian

Indian

Pakistan

i

Na1

veHaw

aiian

Lao1

an

NHP

I

La1n

o

AIAN

Gua

man

ian

Black

Korean

Cambo

dian

Tongan

Banglade

shi

Samoa

n

Nep

alese

Mon

golian

HomeownershipRate(2010)

2


AAPI-NaRonalHomeownershipRateComparableorLowerthanBlackorHispanicCommunity


66% 66% 64% 63% 63% 63% 62% 61% 59%56% 55% 55% 55% 53% 51% 49% 49% 48%

45% 44%

0%

10%

20%

30%

40%

50%

60%

70%


3


AAPI-NaRonalHomeownershipRateComparableorLowerthanBlackorHispanicCommunity


66%60% 59% 58%

54% 53% 53% 51%47% 47% 46% 44% 41% 40%

0%10%20%30%40%50%60%70%


4

Source:h*p://www.huduser.org/publicaRons/pdf/phase2_final.pdf

AAPI-HigherDiscriminaRonRatethanBlacksandHispanicsduringtheHomebuyingProcess

DatafromU.S.DepartmentofHousingandUrbanDevelopment

17% 18%21%

0%

5%

10%

15%

20%

25%

AfricanAmerican Hispanic Asian

2000-2001

5

SystemaRcdiscriminaRonoccurringin

Thislevelofdiscrimina1oniscomparabletothelevelexperiencedbyAfricanAmericanhomebuyers,andsignificantly

higherthanthelevelofdiscrimina1onagainstHispanics.

h*p://www.modelminority.com/joomla/index.php?opRon=com_content&view=arRcle&id=478:housing-bias-against-asian-americans-seen-&caRd=47:society&Itemid=56

OneinFiveAsianAmericansexperiencediscriminaRonintherentalandhomebuyingprocess

•  HousingAvailability•  Inspec1ons•  FinancingAssistance•  AgentEncouragement

DatafromModelminority

6

Source:h*p://www.huduser.org/publicaRons/pdf/phase2_final.pdf

AAPI-FaceComparableorHigherRatesofDiscriminaRonthanHispanicsandBlacks

duringtheRentalProcess

DatafromU.S.DepartmentofHousingandUrbanDevelopment

20%

24%22%

0%

5%

10%

15%

20%

25%


2000-2001

7

DatafromtheUCLA-AsianAmericanStudiesCenterSource:h*p://www.aasc.ucla.edu/besol/ucla_besol_esgv.pdf/

21.8%

17.3%

10.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Asians Hispanics Whites*Dataonhousingcostsasapercentageofincomebyrace/ethnicityinEastSanGabrielValley

(Covina,Walnut,DiamondBar,WestCovina,RowlandHeightsandtheCityofIndustry)

AAPI-PayHighestProporRoninHousingCostBurden-EastSanGabrielValley*

Pay more than 50% of their monthly income to their housing costs (2006-2010)

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•  Receivedsignificantlylessinforma1onontheavailabilityofsimilarunits•  Werelesslikelytobeabletoinspecteithertheadver1sedunitorsimilarunits•  Werelesslikelytobeofferedhelpwithfinancingfromrealestateagents•  Werelesslikelytobeprequalifiedthanwhites

Impact:

ü  Longer1me&highercostforhomesearchü  Constrainedandlimitedchoicesforavailableunits

h*p://www.huduser.org/portal/PublicaRons/pdf/HUD-514_HDS2012.pdf

AAPI-DiscriminaRonduringHomePurchasingProcess

9

DatafromtheSea\leTimesSource:h*p://www.sea*leRmes.com/business/real-estate/asians-suffered-largest-drop-in-us-homeownership-in-08/

AAPI-GreatestDropinHomeownership

1.2%

0.9%0.8%

0.4%

0.0%

0.2%

0.4%

0.6%

0.8%

1.0%

1.2%

1.4%

Asian Black Hispanic White

2006-2008

10

AAPIHousingData

DatafromtheUCLA-AsianAmericanStudiesCenterSource:h*p://www.aasc.ucla.edu/besol/ucla_besol_esgv.pdf/

AAPI-OnlyGrouptoDeclineinHomeownershipRate–EastSanGabrielValley*

0.5%

-4.1%

0.6%0.3%

-5.0%-4.0%-3.0%-2.0%-1.0%0.0%1.0%

Whites Asians Hispanics Others

2000–2010*

*EastSanGabrielValley(Covina,Walnut,DiamondBar,WestCovina,RowlandHeightsandtheCityofIndustry)

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AAPIHousingData

DatafromtheUCLA-AsianAmericanStudiesCenterSource:h*p://www.aasc.ucla.edu/besol/ucla_besol_esgv.pdf

AAPI-GreatestDeclineinHomeownershipRate-EastSanGabrielValley*

-0.7%

-7.8%

1.1%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

Whites Asians Hispanics

2006–2010*


12

DatafromtheUCLA-AsianAmericanStudiesCenterSource:h*p://www.aasc.ucla.edu/besol/ucla_besol_esgv.pdf/(pg.27,figure7)

AAPI-HighestRateofForeclosedProperResaherDefaulRng–EastSanGabrielValley*

2007 to 2010*

56%

47% 45%49%

0%

10%

20%

30%

40%

50%

60%

Asian Black Hispanic White


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“Wefindthatracehasanindependenteffectonforeclosureevena<ercontrollingforborrowerincomeandcreditscore.”

Inpar1cular,Asianborrowerswere1.31mesmore

likelytobeinforeclosureaswhiteborrowers

h\p://www.frbsf.org/community-development/files/wp08-051.pdf

AAPI-ProbabilityofForeclosureComparabletoOtherMinorityGroups

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AAPI-2ndHighestDropinWealth

DatafromthePewResearchCenterSource:h*p://www.pewsocialtrends.org/2011/07/26/wealth-gaps-rise-to-record-highs-between-whites-blacks-hispanics/

66%

54% 53%

16%

51%

32%

23%18%

0%

10%

20%

30%

40%

50%

60%

70%

Hispanic Asian Black White

AllAssets

HomeEquity

All Assets and Home Equity

15

AAPI-ProbabilityofForeclosureComparabletoLaRnosat1.4xinCalifornia

1.8

1.4 1.3

0

0.4

0.8

1.2

1.6

2


DatafromtheFederalReserveBankofSanFranciscoSource:h*p://www.frbsf.org/community-development/files/cra_lending_during_subprime_meltdown11.pdf

(California,2008)

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*GetStartedprogramhelpspeoplebuyhomesinlower-incomeneighborhoodsor"majorityminority"neighborhoodssuchasHarleminManha*an,orSt.AlbansinQueens.

h*p://www.fairhousingjusRce.org/2015/02/03/opening-acts-february-3-2015/

AAPI-DiscriminaRoninMortgageLendingPracRces

Inves1ga1onandDatafromfairhousingjus1ce17

QualifiedSouthAsiantester(w/SameLoanOfficer)

•  Offered$400,000valuehome

•  Maximumloanamountof$320,000(ConvenRonal)

•  EncouragedtousetheGetStartedprogram(lower-incomeneighborhoods)*

LessQualifiedWhiteTester(w/SameLoanOfficer

•  Offered$450,000valuehome

•  Maximumloanamountof$405,000(ConvenRonal)

•  NottoldabouttheGetStartedprogram(lower-incomeneighborhoods)*

AAPI-SmallBusinessesDisproporRonateDependenceonHomeEquityLine

DatafromtheFederalReserve-SmallBusinessMee1ngSeriesSource:h*p://www.federalreserve.gov/newsevents/conferences/sbc_small_business_summary.pdf

DownwardSpiralLeadingtoForeclosure

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X

Dispropor1onateDependenceonHomeEquityLine

Reduc1oninHomeValue

Reduc1oninLineofCredit

Nega1veImpactOnBusiness

ImpactsAbilitytoPayMortgage

Payment

AAPI Housing Data

Data & Analytics

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