ownership of the "echo boomers," the children

of baby boomers (Ernst & Young, page 9). In fact,

Federal Reserve Chairman Alan Greenspan told

Congress "The underlying demand for new housing

units has received support from an expanding

population, in part resulting from high levels of

immigration" (Shook, 2002). This suggests that,

given the influx of more than 13,000 newcomers

in the 1990s, Grand Rapids could experience

a housing market "boom" in the next decade.

"Immigrants are creating vibrant communities…

[and] have revitalized once-blighted neighborhoods,"

the Ernst & Young study claims.

Newcomers tend to cluster in ethnic communities,

seeking the support of families, friends and

other immigrants as they make the transition

to American life. They are commonly attracted

to the affordable prices of properties in what

are perceived as "disadvantaged" areas of the

city, and soon buy homes, start businesses,

establish community centers, and enjoy the

benefit of rising property values. The study cites

the case of the Vietnamese in Chicago’s north

side along Argyle Street, Russians in Brooklyn’s

Brighton Beach, and Hispanics in Washington

D.C.’s Adams Morgan neighborhood as examples

of this trend (Ernst & Young, page 3). In Grand

Rapids, we see examples of such revitalization

in areas such as Grandville Avenue, with its

flourishing Hispanic-owned shops and restaurants,

and South Division Avenue between 28th and

44th Streets, where a variety of Asian-owned

businesses have been created.

The kind of spirit that drives newcomers to

leave their home countries and risk everything

to begin again in America translates easily

into entrepreneurial initiative. For example, the

Pico-Union area west of downtown Los Angeles

represents the highest rate of new business

formations in Los Angeles county despite the

relatively low average incomes of the largely

immigrant Latino community (Ernst & Young,

p.11). Newcomers traditionally open businesses

such as restaurants and grocery stores, but today

they are also starting construction companies,

travel agencies, car services, beauty salons, minimarts,

and a wide range of other enterprises.

"Some immigrants are using their links to

their home countries to start new businesses,"

according to the Ernst & Young study (page 10).

For example, after the economic collapse of

the oil and gas industry in the 1980s, the city

of Houston lost one out of seven jobs in just

five years, and many former oil and gas industry

employees moved away. Yet, the city has

transformed its economy, partially by leveraging

the influx of new immigrants, whose numbers

more than doubled from 1980 to 1990. Houston