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Classified in: Business, Covid-19 virus
Subjects: NPT, SVY, ASI

Low Housing Stock And Large Downpayments Stand In The Way Of The Next Generation Of AAPI Homebuyers


SAN DIEGO, May 11, 2020 /PRNewswire/ -- The 2019-2020 State of Asia America Report, an annual publication of the Asian Real Estate Association of America (AREAA), provides a snapshot of the state of Asian American and Pacific Islander (AAPI) homeownership pre-COVID-19. The report presents disaggregated regional, demographic, socioeconomic, and housing data for the most diverse and fastest-growing population in the United States, providing a comprehensive resource for industry professionals, leaders, and decision-makers as they map ways to better serve this community.  

AREAA will hold a virtual press conference to unveil the 2019-2020 State of Asia America Report virtually on Tuesday, May 12, 2020 at 8:30 a.m. PDT (11:30 a.m. EDT). Registration for the virtual event can be found here.

According to the report:

"The unique barriers to homeownership for our community loom large?from language barriers, to antiquated credit scoring models and underwriting standards that do not account for the self-employed, entrepreneurial AAPI buyer as well as dire shortages in major housing markets?as we try to move the needle on the AAPI homeownership rate," remarks 2020 AREAA National President James Huang. "We are incredibly proud of this year's State of Asia America Report and we hope it will serve as a great educational tool in helping find solutions to open up access to housing for the next generation of homebuyers."

"At RE/MAX, we heartily support the Asian Real Estate Association of America and are pleased to present its 2020 State of Asia America Report, far and away the most comprehensive compilation of Asian American and Pacific Islander (AAPI) real estate and economic data available today," comments RE/MAX Senior Vice President, Industry Relations and Global Growth & Development, Mike Reagan. "The data found in the report is invaluable in highlighting the growing power and influence of the fastest growing population in the United States."

The 2019-2020 State of Asia America report is sponsored by RE/MAX. For more information on or to receive a copy of the State of Asia America Report, please visit: areaa.org/saa

MEDIA CONTACT
Sabrina Ruiz
[email protected]
619-794-2016

 

SOURCE Asian Real Estate Association of America (AREAA)


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