Homeownership drop greatest for Asian-Americans
In Language barriers, economy may be cause for unlikely drop in Asian American homeownership (October 3, 2009) the Pasadena Star News reports on recent American Community Survey (Census Bureau) statistics that show that homeownership for Asian-Americans fell more precipitously in 2008 than for any other racial group in the U.S.. Community leaders and advocates with the Asian Pacific American Legal Center in Los Angeles attribute the drop to language barriers that make Asians the target of home equity and foreclosure rescue scams and lower participation in loan modification programs which, for the most part, do not include Asian language materials.
