IDEAS home Printed from https://ideas.repec.org/a/col/000442/010761.html
   My bibliography  Save this article

Portfolio Reasons for Homeownership: The Case of Immigrants

Author

Listed:
  • Carlos Vargas Silva

Abstract

This paper uses data from the Legalized Population Survey to study the determinants of U.S. immigrant´s home ownership. The main interest of the paper is on the relationship between house ownership in the U.S. and house ownership abroad. The results show that house ownership of U.S. immigrants is positively related to house ownership abroad. The results are especially significant for females and for the ownership of a second house in the U.S. These results seem to imply that migrants balance their portfolios between housing investments in the U.S. (safe assets) and housing investments abroad (risky assets). It is possible that these housing investments abroad can account for some of the low house ownership rates that previous studies have found for U.S. immigrants.Resumen:Este trabajo usa datos de la Encuesta de Población Legalizada para estudiar los determinantes de la propiedad de vivienda de los inmigrantes en Estados Unidos. El interés principal de este trabajo es la relación entre la propiedad de vivienda en Estados Unidos y la propiedad de vivienda en el extranjero. Los resultados muestran que la propiedad de vivienda de los inmigrantes en Estados Unidos está relacionada positivamente con su propiedad de vivienda en el extranjero. Los resultados son especialmente significativos en cuanto a las mujeres y en cuanto a la propiedad de una segunda casa en los Estados Unidos. Estos resultados parecen implicar que los inmigrantes equilibran sus portafolios entre inversiones en Estados Unidos (activos seguros) e inversiones de vivienda en el extranjero (activos riesgosos). Es posible que estas inversiones de vivienda en el extranjero puedan explicar en algún grado las bajas tasas de propiedad de vivienda que estudios anteriores han encontrado para los inmigrantes en Estados Unidos

Suggested Citation

  • Carlos Vargas Silva, 2006. "Portfolio Reasons for Homeownership: The Case of Immigrants," Revista Ecos de Economía, Universidad EAFIT, October.
    • Handle: RePEc:col:000442:010761
    as

    Download full text from publisher

    File URL: http://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/1955/1965
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Dowell Myers & Seong Lee, 1996. "Immigration cohorts and residential overcrowding in southern California," Demography, Springer;Population Association of America (PAA), vol. 33(1), pages 51-65, February.
    2. Borjas, George J., 2002. "Homeownership in the immigrant population," Journal of Urban Economics, Elsevier, vol. 52(3), pages 448-476, November.
    3. Dusansky Richard & Wilson Paul W., 1993. "The Demand for Housing: Theoretical Considerations," Journal of Economic Theory, Elsevier, vol. 61(1), pages 120-138, October.
    4. Coulson, N. Edward, 1999. "Why Are Hispanic- and Asian-American Homeownership Rates So Low?: Immigration and Other Factors," Journal of Urban Economics, Elsevier, vol. 45(2), pages 209-227, March.
    5. Lauren Krivo, 1995. "Immigrant characteristics and Hispanic-Anglo housing inequality," Demography, Springer;Population Association of America (PAA), vol. 32(4), pages 599-615, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mathias Sinning, 2010. "Homeownership and Economic Performance of Immigrants in Germany," Urban Studies, Urban Studies Journal Limited, vol. 47(2), pages 387-409, February.
    2. Laurent Gobillon & Matthieu Solignac, 2020. "Homeownership of immigrants in France: selection effects related to international migration flows [A nation of immigrants: assimilation and economic outcomes in the age of mass migration]," Journal of Economic Geography, Oxford University Press, vol. 20(2), pages 355-396.
    3. Amelie F. Constant & Rowan Roberts & Klaus F. Zimmermann, 2009. "Ethnic Identity and Immigrant Homeownership," Urban Studies, Urban Studies Journal Limited, vol. 46(9), pages 1879-1898, August.
    4. Gary Painter & Zhou Yu, 2008. "Leaving Gateway Metropolitan Areas in the United States: Immigrants and the Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 45(5-6), pages 1163-1191, May.
    5. Núria Rodríguez‐Planas, 2018. "Mortgage finance and culture," Journal of Regional Science, Wiley Blackwell, vol. 58(4), pages 786-821, September.
    6. repec:zbw:rwidps:0045 is not listed on IDEAS
    7. Juan Ming & Jiachun Liu & Zicheng Wang, 2020. "Does the Homeownership Gap Between Rural–Urban Migrants and Urban–Urban Migrants in China Vary by Income?," SAGE Open, , vol. 10(4), pages 21582440209, November.
    8. Zhou Yu, 2003. "Housing Tenure Choice of Taiwanese Immigrants: A Different Path to Residential Assimilation," Working Paper 8611, USC Lusk Center for Real Estate.
    9. Gary Painter & Lihong Yang & Zhou Yu, 2001. "Heterogeneity in Asian American Homeownership: The Impact of Household Endowments and Immigrant Status," Working Paper 8630, USC Lusk Center for Real Estate.
    10. Gary Painter & Zhou Yu, 2004. "Leaving Gateway Metropolitan Areas: Immigrants and the Housing Market," Working Paper 8597, USC Lusk Center for Real Estate.
    11. Thomas K. Bauer & Deborah A. Cobb‐Clark & Vincent A. Hildebrand & Mathias G. Sinning, 2011. "A Comparative Analysis Of The Nativity Wealth Gap," Economic Inquiry, Western Economic Association International, vol. 49(4), pages 989-1007, October.
    12. Michael Grover & Richard M. Todd, 2008. "Accounting for regional migration patterns and homeownership disparities in the Hmong-American refugee community, 1980-2000," Community Affairs Report 2008-1, Federal Reserve Bank of Minneapolis.
    13. Borjas, George J., 2002. "Homeownership in the immigrant population," Journal of Urban Economics, Elsevier, vol. 52(3), pages 448-476, November.
    14. Rebbeca Tesfai, 2016. "The Interaction between Race and Nativity on the Housing Market: Homeownership and House Value of Black Immigrants in the United States," International Migration Review, Wiley Blackwell, vol. 50(4), pages 1005-1045, December.
    15. Mathias Sinning, 2006. "Home-ownership and Economic Performance of Immigrants in Germany," RWI Discussion Papers 0045, Rheinisch-Westfälisches Institut für Wirtschaftsforschung.
    16. Sherrie L. W. Rhine & Maude Toussaint-Comeau, 2004. "The relationship between Hispanic residential location and homeownership," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 28(Q III), pages 2-12.
    17. Laurent Gobillon & Matthieu Solignac, 2014. "Homeownership of immigrants in France," ERSA conference papers ersa14p558, European Regional Science Association.
    18. Gary Painter & Lihong Yang & Zhou Yu, 2003. "Heterogeneity in Asian American Home-ownership: The Impact of Household Endowments and Immigrant Status," Urban Studies, Urban Studies Journal Limited, vol. 40(3), pages 505-530, March.
    19. Sherrie L. W. Rhine & Maude Toussaint-Comeau, 2003. "Tenure choice with location selection: the case of Hispanic neighborhoods in Chicago," Working Paper Series WP-03-05, Federal Reserve Bank of Chicago.
    20. Wang, Jia & Winters, John V. & Yuan, Weici, 2022. "Can legal status help unauthorized immigrants achieve the American dream? Evidence from the Deferred Action for Childhood Arrivals program," Regional Science and Urban Economics, Elsevier, vol. 95(C).
    21. Donald R. Haurin & Stuart S. Rosenthal, 2009. "Language, Agglomeration and Hispanic Homeownership," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(2), pages 155-183, June.

    More about this item

    Keywords

    Housing; Migration; Asset Accumulation; Vivienda; Migración; Acumulación de activos;
    All these keywords.

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:col:000442:010761. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valor Público EAFIT - Centro de estudios e incidencia (email available below). General contact details of provider: https://edirc.repec.org/data/deafico.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.