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Homeownership's importance in America's culture and economy raises the possibility that status as a homeowner or renter constitutes a core aspect of personal identity, on par with race and ethnicity. A survey from the socially diverse Los Angeles region provides a unique data set to test the possibility that homeownership exaggerates or mitigates social cleavages, particularly those based on race or ethnicity. The analysis reveals renters as less upbeat than homeowners regarding a variety of opinion measures and distinctly divided in their opinions along racial and ethnic lines. Among homeowners, however, the authors find a confluence of opinion across racial and ethnic lines. [ABSTRACT FROM AUTHOR]