Asian Homeownership Rates Hit Hardest in the Current Real Estate Downturn AREAA Challenges the Housing Industry to Effectively Deal with Linguistic and Cultural Isolation of API Population SAN DIEGO (September 25, 2009) - The Asian homeownership rate suffered the steepest decline among minority groups in 2008, according to the recently released American Community Survey. The survey, conducted by the U.S. Census Bureau, reveals that Asians have been disproportionately impacted by the current housing crisis, with homeownership rates dropping 1.24 percent to 59.4 percent. By comparison, African Americans faced a 0.88 percent decline to 45.6 percent, Hispanics fell 0.80 percent to 49.1 percent and the homeownership rate for Whites decreased 0.40 percent to 73.4 percent overall. While some of the decline in Asian homeownership can be attributed to the regional impact of foreclosures