Chinese Immigrants Emerge Unscathed from US Housing Bust

choi

Jonathan House, Chinese Immigrants Emerge Unscathed from US Housing Bust. Real Time Economics, July 24, 2013
http://blogs.wsj.com/economics/2 ... m-u-s-housing-bust/
(Fannie Mae economist Michael Cevarr analyzed the five largest immigrant groups, representing almost half the foreign-born population in the US: Mexican, Chinese, Indian, Filipino and Salvadoran immigrants. Chinese-born owners have same ownership and median home value in 2011 and 2007)

two consecutive paragraphs:

"Native-born Americans * * * saw their median home value fall by 8.2% and their home ownership rate fall by 2.5 percentage points to 66.7%.

"Salvadorans and Mexicans suffered the most fallout from the crash in house prices. Their home values declined by a third to a half.

My comment:
(a) That comports with my observation: a couple of years before the financial crisis, a Spanish-speaking texan (who came to work in Boston for a one-year contract) was recruited to pitch home loans to Hispanics in Boston, and made a small fortune.
(b) Hum? Last time I read that among the foreign-born Americans Indians (from India) earned the most (But if Taiwanese are classified separately as opposed to lumped with Chinese, Taiwanese earned more than Indians, in part because more Taiwanese have postgraduate or professional degrees), rather than the the Filipinos.