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Asian American Wealth: The Role of Housing and Non Housing Assets

Asian American Wealth: The Role of Housing and Non Housing Assets. Paul Ong and R. Varisa Patraporn UCLA Department of Urban Planning Assets Learning Conference Phoenix, Arizona 9/19/06. Purpose.

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Asian American Wealth: The Role of Housing and Non Housing Assets

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  1. Asian American Wealth: The Role of Housing and Non Housing Assets Paul Ong and R. Varisa Patraporn UCLA Department of Urban Planning Assets Learning Conference Phoenix, Arizona 9/19/06

  2. Purpose • Provide statistical profile of Asian American wealth relative to other racial groups and among Asian American ethnic groups • Provide insights into how immigration, race and ethnicity interact to generate Asian American wealth outcomes

  3. Data • Survey of Income and Program Participation (N=17,000; 13,000 NHW, 2,300 Blacks, 1,000 Latinos, 600 Asian Americans) • Public Use Micro Data Sample

  4. Key Findings • Asians Americans fall in between NHWs and other minorities, but remain closer to NHWs • Wealth gap between Asian Americans and NHWs remain even after controlling for various factors • Within group wealth gap is greater for Asian Americans than NHWs • Differences in wealth among Asian Americans can in part be explained by ethnic differences and related immigration policy

  5. Somewhere At The Top But Not Quite….

  6. Behind NHWs Even After “Achieving” Notes: Tabulations by authors using SIPP 2000 Wave 2 and Wave 3 data

  7. Within Group Differences Greater for Asians

  8. Differences by Asian ethnicity

  9. Policy Recommendations and Considerations • More detailed data that includes ethnicity and immigration status • Research needs to move beyond measuring wealth gap to understanding wealth accumulation processes • Ethnicity is an important factor in wealth accumulation particularly as it relates to immigration

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