Minorities Lose In Housing Crisis


The housing crisis has affected many Americans, but, not surprisingly, some groups have been more vulnerable than others.

That uneven state of affairs was predicted in 2008 by the Institute for Southern Studies, which featured on its website a number of items under the heading: "The housing crisis: An assault on black and Latino economic progress."

Among other things, it cited a study by the Joint Center for Political and Economic Studies that reported that "the rate of subprime mortgages for Latinos and African Americans is about double the rate for whites." It also quoted an AFL-CIO blog at the time as reporting that the home foreclosure crisis has been "especially devastating for blacks and Latinos -- draining billions of dollars in wealth built up over decades."

Jump ahead now to the present day and a new study....this time in Chicago. It reveals that the earlier concerns were apparently well grounded.