Peer review

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Angelica De La Torre

ENGL 1A-SEC 93

Professor Navarro

11//4/21

Outline

Claims:

● People of color are more likely to be in debt and less likely to own homes compared to

white individuals..

● White households are more likely to hold assets in stocks, mutual funds, and investment

trusts than U.S African American, Mexican, other latino, Korean, and Vietnamese

households.

● Asian Indians, Chinese, and Japanese were the most likely to own an asset, whereas U.S.

black, Mexican, other Latino households, and Vietnamese generally had the highest

levels of asset poverty.

● Mexicans, other Latinos, and Vietnamese also owned savings accounts at a lower rate

than white households

● student loan debt may affect nonwhite college students more adversely than their white

peers.

● The percentage of households owning a home differs dramatically by race and ethnicity

in Los Angeles

● Home ownership gives you a pathway to economic security and mobility

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Thesis: When it comes to homeownership and wealth the studies show that there are

disparities and a gap between different ethic/racial groups compared to white people.

Rough Draft:

The first chosen resource is from the Federal Reserve bank of San Francisco. It is titled “Color

of Wealth in Los Angeles” and the authors were Melany De La Cruz-Viesca, Zhenxiang Chen,

Paul M. Ong, Darrick Hamilton, and William A. Darity Jr.. This was a joint publication from

Duke University, The New School and the University of California, Los Angeles and as well the

insight center for community economic development. In this piece of writing it spoke about

many factors of economic development that are in Los Angeles, CA. One thing that was very

interesting to me and helped me understand my issue was the “The Implications of Racial

Disparities in Los Angeles” section. This section spoke about the wealth inequality that is

occurring within different racial groups. It stated things such as how people of color are more

likely to be in debt and less likely to own homes compared to white individuals, White

households are more likely to hold assets in stocks, mutual funds, and investment trusts than U.S

african American, Mexican, other latino, Korean, and Vietnamese households, and how Asian

Indians, Chinese, and Japanese were the most likely to own an asset, whereas U.S. black,

Mexican, other Latino households, and Vietnamese generally had the highest levels of asset

poverty.

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I will use this resource to further advance my idea of the issue that I will be discussing. The

information that was spoken about is very crucial to the understanding of the wealth inequality

that is occurring not only in the community that I chose, but everywhere.

The second resource that I have chosen is an analysis that was written by Jamila Henderson

titled “Homeownership Is Unattainable for Most Bay Area Black, Latinx, Cambodian, and

Pacific Islander Households''. Within this analysis the fundamental idea is that individuals of

color are less fortunate when it comes to homeownership compared to individuals who are

cuascasian.

There is a major difference in owning a home when it comes to your race/ethnicity. It was

found that the homeownership rate across the region that was steady between 2000 and 2010 has

lightly declined from 58 to 56 percent over the last decade. This drop comes from the increase of

rent and housing costs.

This resource is very informational and helped me undeterred in an analytical way about this

issue. It provided not only percentages but graphs as well and that itself gave me a good

understanding of what was being said.

The third resource is written by Zhou Yu and Dowell Myers. It is titled “Misleading

Comparisons of Homeownership Rates when the Variable Effect of Household Formation Is

Ignored: Explaining Rising Homeownership and the Homeownership Gap between Blacks and

Asians in the US”. In this article it spoke about how african americans have a low

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homeownership rate. 2004). “Although Blacks have significantly improved their homeownership

rates in recent years, the Black-White homeownership gap remains wide (Bostic and Surette,

2001; Freeman, 2005”(Zhou, 5). There is a big gap between the homeownership of white

individuals and people of color. The rate of homeownership varies severely. “Whites had the

highest homeownership rate (71.4 per cent), followed by Asians (53.5 per cent), and the lowest

homeownership rates are found among Latinos (44.1 per cent) and Blacks (44.6 per cent). Based

on the conven- tional homeownership rate alone, one would conclude that both Asians and

Whites had better access to owner-occupied housing than Blacks and Latinos”(Zhou, 8). This

data illustrates how there is a big gap between the many ethnic groups.

“Misleading Comparisons of Homeownership Rates when the Variable Effect of Household

Formation Is Ignored: Explaining Rising Homeownership and the Homeownership Gap between

Blacks and Asians in the US” is a very good article because it illustrates how many ethnic groups

are facing disparities when it comes to owning homes or having the same income. The data that

is provided gives you a good sense as the reader about how there is an inequality that is

occurring between the certain ethnic groups that were listed above.

The fourth source is titled “Hurdles or walls? Nativity, citizenship, legal status and Latino

homeownership in Los Angeles”. This Journal was written by Eileen Diaz McConnell. In this

journal it talks about the homeownership differences among four latino groups. A good statement

that was made was “Homeownership is directly and indirectly linked with many positive child,

adult, and community-level outcomes” (McConnel,2) This illustrates homeownership has a

positive outcome for individuals.. It also stated that immigrant citizenship and status do predict

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the homeownership, net, etc. An interesting thing that was said in this journal was that “Nativity

does not predict homeownership.”(McConnel,1).

Overall, This journal will help me learn more about the impirantcane of home ownership. It also

spoke about the topic and also about immigration and how it might correspond to

homeownership. These pieces of writing have all illustrated how there is a disparity between

homeownership and wealth between the different ethnic/racial groups around california.

Work cited:

De La Cruz-Viesca , Melany, et al. “Color of Wealth in Los Angeles - Federal Reserve

Bank of ...” The Color of Wealth in Los Angeles, 2016,

https://www.frbsf.org/community-development/files/color-of-wealth-in-los-angeles.pdf.

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Henderson, Jamila. “Homeownership Is Unattainable for Most Bay Area Black, Latinx,

Cambodian, and Pacific Islander Households: Bay Area Equity Atlas.” Homeownership Is

Unattainable for Most Bay Area Black, Latinx, Cambodian, and Pacific Islander Households |

Bay Area Equity Atlas, 24 Sept. 2021, https://bayareaequityatlas.org/node/65531.

Yu, Zhou, and Dowell Myers. “Misleading Comparisons of Homeownership Rates When the

Variable Effect of Household Formation Is Ignored: Explaining Rising Homeownership and the

Homeownership Gap between Blacks and Asians in the US.” Urban Studies, vol. 47, no. 12,

Temporary Publisher, 2010, pp. 2615–40, http://www.jstor.org/stable/43079943.

McConnell, Eileen Díaz. “Hurdles or Walls? Nativity, Citizenship, Legal Status and Latino

Homeownership in Los Angeles.” Social Science Research, Academic Press, 12 May 2015,

https://www.sciencedirect.com/science/article/pii/S0049089X15000897.