Credit Crises, Mortgage Crises, Bank Crises, Bail out, Wipe Out...Whatever you call what is happening the hurt really has a human face. The impact on the Hispanics/Latinos is enormous.
Specially, the crises is eliminating the wealth and savings of African Americans and Latinos to greater degree as stated: "The housing and subprime-mortgage crisis stands to cost minority homeowners 40 percent more of their wealth than white homeowners in similar circumstances, an advocacy group says. Some estimates put the loss for African-American homeowners who lose homes to foreclosure at $122 billion, while Latino homeowners stand to lose up to $129 billion, according to a study by the nonprofit group United for a Fair Economy.
A national conference on subprime lending, foreclosures and race is being held today and Friday, hosted by Ohio State University's Kirwan Institute for Race and Ethnicity.
National experts on race, law, finance and real estate will examine the subprime crisis' disproportionate effects on African-Americans and Latinos, and try to develop solutions for the growing problem, said Jason Reece, a senior researcher at the Kirwan Institute."
(Thursday, October 2, 2008 3:06 AM , By Tracy Turner
THE COLUMBUS DISPATCH , http://www.columbusdispatch.com/live/content/business/stories/2008/10/02/racial_foreclose.ART_ART_10-02-08_C8_VABG18N.html?sid=101)
Monday, October 13, 2008
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