Friday, October 23

Tag: Grace Tsang

Immigrants Are Driving the Bay Area Housing Market
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Immigrants Are Driving the Bay Area Housing Market

By Sharon Simonson Immigrants to this country who have become U.S. citizens are driving the Bay Area housing market, owning their homes at rates as much as 13 percentage points higher than the American-born, according to new U.S. Census Bureau estimates for 2013. In Santa Clara County, that coincides with foreign-born citizens’ greater representation in management, business, science, and art occupations and with an outsized presence in manufacturing industries. It also matches with a greater likelihood of living in a bigger house and a higher median household income—$97,000 for foreign-born U.S. citizens versus $91,325 for the U.S.-born. In San Francisco, not quite half of households of foreign-born U.S. citizens own and occupy their own homes compared to 35 percent of U.S.-bo...