May is Asian American and Pacific Islander Heritage Month! Join us as we honor our leaders of AAPI heritage who have impacted our industry, discuss homeownership stats and discover ways you can get involved.
Why is AAPI Month Celebrated in May?
According to History.com, “The month of May was chosen for AAPI Heritage Month because it commemorates the immigration of the first Japanese people to the United States on May 7, 1843. May is also a significant month because it recognizes Golden Spike Day, May 10, 1869, which marks the completion of the transcontinental railroad that was built with significant contributions from Chinese workers.”
Save the Dates!
October 12-14: AREAA’s National Convention will be held in Chicago from October 12-14, 2023 at the Swissotel Chicago. Mark your calendars!
History in the Making!
This past election, Nicole Lee won the 11th ward Alderperson seat, making her the first Chinese-American Alderperson in City Council!
Celebrate AAPI Month Around Town
Looking for AAPI-focused activities to do around town? We have some suggestions!
Check out the city’s most beloved Asian-owned businesses: Meet the people behind a James Beard Award-winning restaurant, a bookstore dedicated to Asian art and history, a group showcasing Chinese culture and more.
Enjoy AAPI Chicago restaurant week: Taking place from May 12-21, OCA-Asian Pacific American Advocates are showcasing the wonderful AAPI-owned restaurants all around the Chicagoland area.
Family event at the Chicago History Museum: Celebrate Chicago’s Asian American and Pacific Islander (AAPI) community with the Chicago History Museum on May 21.
Attend additional events, activities, exhibits, museums and more: Choose Chicago put together a round-up of additional events taking place in May for AAPI Month.
AAPI Art & History with Smithsonian
Check out the Smithsonian Asian Pacific American Center, which brings history, art and culture to you through innovative museum experiences and digital initiatives.
Celebrating our Current AAPI Leaders
AAPI HOMEOWNERSHIP STATISTICS
Here’s what you need to know about the AAPI population in the United States and locally. This data was gathered from the 2023 State of Asia America report, which is released by the Asian Real Estate Association of America.
AAPI homeownership barriers include:
- Homeownership gaps by race and ethnicity
- Credit thin population and credit access
- Mortgage-ready population – older millennials are more likely to be mortgage ready
- Home affordability
AREAA has established a three-point plan to address these barriers through legislation, advocacy and policy, which includes:
- Downpayment Toward Equity Act. For the second year in a row, AREAA is supporting the Downpayment Toward Equity Act. This legislation would provide down payment assistance to first-time, first-generation homebuyers to address multigenerational inequities in access to homeownership.
- Real Estate Valuation Fairness and Improvement Act. This legislation would create an Interagency Task Force, consisting of representation of the 14 regulatory bodies and government agencies that currently preside, in one form or another, over real estate lending practices and the valuation of real estate collateral for mortgage lending purposes.
- Advancing Equity, Justice and Opportunity for AANHPI | Executive Order 1401. One of the overarching goals of the Executive Order is to examine and assess opportunities for data disaggregation. This point is of utmost importance to the AANHPI community; on a governmental level, there continues to be a limited amount of disaggregated data on specifics subgroups. This makes public and private initiatives and policies to address inequalities and disparities much more difficult to effectively develop and execute.
Fair Housing Resources
Ensure you’re upholding fair housing practices and equal treatment to all, especially prospective and future clients. Access our Fair Housing resources, featuring training, classes and videos to ensure your knowledge and compliance with the Fair Housing Act.
Take the At Home with Diversity Course on May 31st!
At Home With Diversity® (AHWD) is a NAR certification program designed to prepare REALTORS® to work effectively with and within today’s increasingly diverse pool of homebuyers. Make sure to register for our upcoming course, taking place on May 31st!
Get Involved with our Industry Partner, AREAA Chicago
AREAA is dedicated to promoting sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market. The Chicago chapter is one of our Industry Partners! Visit their webpage to find out how to get involved.
Re-Visit AREAA’s Historic “No Other” Campaign!
In 2016, AREAA announced a historic win to include distinct data on Asian American and Pacific Islanders (AAPI) in the U.S. Census Bureau’s comprehensive quarterly reports on homeownership. Find out more here.