The wealth and asset holdings of U.S.-born and foreign-born households: Evidence from SIPP data

Authors:
  • DCDeborah A. Cobb-Clark
    Deborah A. Cobb-Clark
  • VHVincent Hildebrand
    Vincent Hildebrand
Preprint
Publisher website
Google Scholar
  • 1 January 2003
Abstract
SIPP data are used to analyze the wealth of the U.S. foreign-born population. We find that the median wealth level of U.S.-born couples is 2.3 times the median of foreign-born couples, while the median wealth level of U.S.-born singles is three times that of foreign-born singles. Further, there is a great deal of diversity in wealth within the immigrant population. Diversity in net worth manifests itself primarily in source-region di.erences, while entry-cohort is more closely related to portfolio choices. Established immigrants hold less and recent immigrants hold more financial wealth. An opposite pattern emerges with respect to real estate equity.