AN ANTHOLOGY OF COMING TO AMERICA A JOURNEY TO AREAA POLICY WINS TABLE OF CONTENTS S T A T E O F A S I A A M E R I C A2 0 2 4 – 2 5 EditorJordan FanManaging EditorVanessa ShieldsArt DirectorJazz MirandaDesignersArmel ZamoraAngela HoltonContributors FOREWORD EVP Marketing,Communications & Events, 2024 AREAA National Senior Vice President,Single-Family Mission and In an ever-changing world and industry, real estate agents whohave earned the trust of their clients – and even of potentialclients who know them only by reputation or affiliation – have acritical competitive advantage. How do they earn that trust? By For years, AREAA and the State of Asia America Report have been crucial for sharing boththe data and the story of the AANHPI community. This year’s report focuses on the journey ofcoming to America, a journey that can take many different shapes. The AANHPI community For over 20 years, AREAA has advanced understanding andopportunities for Asian American and Pacific Islander (AAPI)communities through insightful research and collaborativepartnerships. This year's report is a prime example of the When I started my tenure as AREAA President this year, I shared how my parents first cameto America on student visas. Things were not always easy for them, and for the first few yearsof my life, they had to live separately from each other and me as they both sought a footholdin this country. They worked hard and sacrificed to provide me with a good life and a place tocall home. Now, discriminatory laws are being passed and introduced around the country that At Freddie Mac, our mission to make home possible relies oncollaborative partnerships like the one we share with AREAA.By working together on initiatives such as the State of AsiaAmerica Report, we expand our collective understandingof the housing needs and trends impacting diverse AAPI That’s why RE/MAX is honored to continue its ongoing supportof the Asian Real Estate Association of America, and specifically Understanding the crucial AAPI insights highlighted inthe report – based on timely economic, demographic andreal estate data – gives real estate professionals a betteropportunity to establish lasting relationships with their clients. Continuing from previous years, AREAA has worked with partners like Freddie Mac toinclude detailed, disaggregated data on AANHPI subgroups. Not only does this arm realestate practitioners with the knowledge they need to serve our community, but it serves to The findings in this year's report offer timely takeaways forindustry partners seeking to better support AAPI families andindividuals through informed outreach, programs and policies.Key trends highlighted through our collaborative data analysis,such as disaggregated demographic insights and barriers Dive into this invaluable tool and apply the insights to builddeeper community, shape your business, and advance theindustry. The report can give you a clear competitive edge AANHPIs are Americans. Some of us are successful and some of us are struggling. Some ofus are new arrivals, while some have been here for generations. This report is a story about On behalf of Freddie Mac, I commend AREAA for theirdedicated partnership and look forward to our continuedcollaborative efforts to advance shared goals of sustainableand equitable housing opportunities. Together, through As you serve the AAPI community and guide families andindividuals through one of life’s biggest experiences, know this:AREAA and RE/MAX are very much aligned in supporting yourefforts to build sustainable homeownership opportunities for all. THE LANDOF DREAMS IMMIGRANT POPULATION FROMASIA IN THE UNITED STATES, One of the core aspects of the American Dream is owning ahome. A place where you can feel safe, raise a family, build alife, and host awesome cookouts. It’s been the subject of yearsof policy, references in media, and is one of the most ubiquitoussigns of wealth and success in this country. But for many, thishas become increasingly out of reach. Housing affordability Source: Data from U.S Census Bureau 2010 and 2019 AmericanCommunity (ACS), and Campbell J. Gibson and Kay Jung.“Historical Census Statistics on the Foreign-born population ofthe United States: 1850-2000” (Working paper n0.81, U.S. Census MOST ASIAN AMERICANS SAY THEY HAVEACHIEVED THE AMERICAN DREAM OR AREON THEIR WAY TO DOING SO(FIGURE 1) POPULATION CHANGE BETWEEN2021 AND 2022(FIGURE 3) BEYOND AVERAGE In last year’s State of Asia America Report, we discussedthe idea of ‘beyond average’; understanding the AANHPIcommunity at a deeper level than just broad strokes. This stillholds true today.Figure 1(on the left) shows that there aresignificant differences between how different subgroups viewtheir attainment of the American Dream. Japanese Americans,while not having the highest homeownership rate out ofthese groups, are the most likely to say they have achieved From 2021 to 2022, population growth wasobserved in 5 of