ethnicity

Great Recession Created a Historic Racial Wealth Gap

The twin demons of the housing market crash and the Great Recession have created historic wealth gaps among racial groups in America: The median wealth of white households is 20 times that of black households, and 18 times that of Hispanic households. The main culprit in minority wealth loss? The housing bust.

Predatory Lenders Played Big Role in Housing Crisis

Predatory lending focused on ethnic minority neighborhoods was a significant factor in the U.S. foreclosure crisis, according to a new study. Predatory lenders offer loans with unreasonable fees, interest rates and payment requirements. Examples include some pawnshops, payday lenders and check cashing services.