Why are Hispanic- and Asian-American homeownership rates so low?: Immigration and other factors

The homeownership rates of Hispanic- and Asian-American households are significantly less than that of other demographic groups in the US, especially after accounting for income and other characteristics. This naturally leads to an investigation of the impact of immigration characteristics of various groups on the propensity for homeownership. It is found that being an immigrant has a substantial negative effect on the probability of being a homeowner but that this effect dissipates over time. The relative youth of these two groups in and of itself plays a significant role in lowering their homeownership rate, as does the relatively high rate of residence in areas with high value-rent ratios. (C) 1999 Academic Press.