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 A. Hildebrand
    Vincent A. Hildebrand
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  • 1 January 2002
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 differences, 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.
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