Analyzing Rates of Seriously Delinquent Mortgages in Asian Census Tracts in the United States

• In Event: 189 - Section on Community and Urban Sociology Refereed Roundtable Session and Business Meeting
  In Refereed Roundtable 60min: Table 06. Immigration and New Diversity

Abstract

Many aspects of the national foreclosure crisis have been analyzed and discussed, including race, ethnicity, and immigration, among others. Interestingly, there has been little work on racial subgroups in connection with foreclosures, in particular Asian subgroups, which are quite diverse. This dearth is surprising given the relatively large differences in terms of income, wealth, and the homeownership rate and the increase in racial diversity among Asian subgroups. Based in NSP 3 data, provided by the U.S. Department of Housing and Urban Development, and 2005/2009 American Community Survey (ACS) data, this study analyzes foreclosure risk rates for Asian subgroups in Census tracts in all Metropolitan Statistical Areas (MSAs) in California and the factors that have influenced them. Findings show that the Hmong, Laotians, and Cambodians have relatively high foreclosure rates whereas Asian Indians and the Chinese have relatively low foreclosure rates. Regression results show that Malaysians, the Taiwanese, Laotians, the Hmong, and Cambodians have a positive coefficient and that the Japanese, Asian Indians, and the Chinese have a negative coefficient, consistent with expectations and the literature.

Author

• Katrin B. Anacker, George Mason University