October 3, 2009
The Pasadena Star-News quoted Professor Dowell Myers about new data suggesting that Asian Americans have been hit hard by the housing crisis. Asian homeownership dropped 1.24 percentage points to 59.4 percent last year, the largest fall in homeownership among the nation's ethnicities, the story reported. About one-third of the U.S. Asian population lives in California, which could explain the homeownership drop, Myers said. "Asians are newer into the housing market. They increased [in homeownership] more from 2000 to 2008 than most other groups," Myers said. As newer buyers, they would have been more impacted by the housing crisis than more established homeowners were, he explained.
The Pasadena Star-News quoted Professor Dowell Myers about new data suggesting that Asian Americans have been hit hard by the housing crisis. Asian homeownership dropped 1.24 percentage points to 59.4 percent last year, the largest fall in homeownership among the nation's ethnicities, the story reported. About one-third of the U.S. Asian population lives in California, which could explain the homeownership drop, Myers said. "Asians are newer into the housing market. They increased [in homeownership] more from 2000 to 2008 than most other groups," Myers said. As newer buyers, they would have been more impacted by the housing crisis than more established homeowners were, he explained.