The Great (Racial) Recession


by Anthony Sibley (AJ) on Sep 18, 2014 | Views: 106 | Score: 2
% Loss of Median Household Wealth, 2005-09
White16
Black53
Hispanic66
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Anthony Sibley (AJ)
Anthony Sibley (AJ) on Sep 18, 2014 10:48 AM said:

With the implosion of the housing market and the subsequent foreclosure crisis, Hispanic and black Americans have seen over half of their collective wealth evaporate. This has been the result of a prevalence of predatory high-risk loans in communities of color, the dominant role of home equity in their wealth portfolios, and certain historical and structural factors, such as residential-segregation.

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