Papers by Varisa Patraporn
While much research exists on African Americans and Latinos after the housing crisis in 2007, muc... more While much research exists on African Americans and Latinos after the housing crisis in 2007, much less is known about the Asian American experience particularly as it relates to foreclosure and housing burden. This study takes a quantitative case study approach examining Asian Americans in one region of Los Angeles County. Utilizing data from the Census, Home Mortgage Foreclosure Data, and DataQuick, we provide a more comprehensive picture of the Asian American housing experience before, during and after the housing boom in 2005. Findings show that Asian Americans’ decline in homeownership could not be explained by foreclosure. In fact, Asian Americans may have avoided foreclosure in this region using higher down payments, avoiding subprime loans, and loans with variable interest. A potential cost of these actions is higher housing burden, which is closely related to default and foreclosure. Thus, policymakers and community leaders should continue to monitor Asian American homeownership as the impact of the housing collapse maybe delayed for Asian Americans compared to other racial groups
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Despite federal and state efforts to ensure equal access to credit, ethnic disparities in financi... more Despite federal and state efforts to ensure equal access to credit, ethnic disparities in financial capital remain. Community Development Financial Institutions (CDFIs) represent one type of institution working to address this inequality. Based on interviews with the staff of ten Los Angeles, CA (USA) area CDFIs, this article explores the unique way CDFIs lend to ethnic entrepreneurs. The findings highlight the role of CDFIs in providing extensive technical assistance, utilizing flexible lending criteria, and building co-ethnic weak ties. Furthermore, CDFI staff members’ specialized knowledge about particular ethnic groups, shared cultural background, and/or language ability allow them to take on greater risk. As the demand for financial capital grows in a tight credit market, it will become increasingly important to understand these community institutions and their potential impact on community development more broadly.
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... In addition, we would like to thank those members of the working group who reviewed the brief... more ... In addition, we would like to thank those members of the working group who reviewed the brief and provided comments: Governor Michael Dukasis, Daniel Flaming, Scott Gluck, Jack Kyser, Bill Pitkin, Michael Storper, Christopher Thornberg, Sophia Heller, and Goetz Wolff. ...
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By a number of traditional aggregate wealth indicators (e.g., income, home ownership, and entrepr... more By a number of traditional aggregate wealth indicators (e.g., income, home ownership, and entrepreneurship) Asian Americans are at or near parity with non-Hispanic Whites. This has lead some scholars and policy makers to utilize a new racial dichotomy with Asian Americans and non-Hispanic Whites at the top and Blacks and Latinos at the bottom. However, this dichotomy buries some critical disparities among Asian Americans and may lead policy makers and scholars to dismiss an in-depth analysis of Asian American wealth or to exclude Asian Americans from asset-building policies targeting racial minorities and disadvantaged groups. We use data from two national surveys, the 2000 and 2004 Survey of Income and Program Participation (SIPP) and the 2006 Community Survey Public Use Microdata Sample (PUMS), to show the complexity of Asian American wealth holdings. Results reveal that Asian Americans as a whole have begun to close the wealth gap with non-Hispanic Whites from 2000-2004 largely due to increased home equity. We also find that Asian Americans continue to lag behind non-Hispanic Whites in terms of net wealth at the highest and lowest ends of the wealth distribution. For instance, after controlling for other factors associated with wealth, the odds of being in the bottom quartile is 1.24 times higher for Asian Americans compared to non-Hispanic Whites. In addition, we find that ethnic differences remain pronounced across all measures of wealth holdings. Further monitoring is needed to determine whether the "mortgage crisis" since 2004 has jeopardized Asian American equity-based wealth gains.
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Papers by Varisa Patraporn