Homeownership Aspirations and Experiences: Immigrant Koreans and Dominicans in Northern Queens, New York City

The culture and traditions of immigrant families can influence both their views of homeownership and their success in purchasing a home. The study described here examines the homeownership and home financing experience of Korean and Dominican immigrant families living in northern Queens neighborhoods of New York City. Using ethnographic methods, the study team investigated the cultural attitudes and experiences that affect the homebuying process. This article discusses the barriers that may hinder immigrants from becoming homeowners during each of the four phases of the homebuying process: presearch, search, purchase, and postpurchase. It concludes with policy recommendations for lending institutions and public agencies that would enable more immigrant households to become homeowners.