Homeownership Losses Are Greatest Among Minorities, Report Finds

Publication: The New York Times

Author: John Leland


05/12/2009 - After a decade of growth, the gains made in homeownership by African-Americans and native-born Latinos have been eroding faster in the economic downturn than those of whites, according to a report issued Tuesday by the Pew Hispanic Center.

The report also suggests that the gains for minority groups, achieved from 1995 to 2004, were disproportionately tied to relaxed lending standards and subprime loans.

An exception to the reversal of homeownership gains, the research shows, can be found among foreign-born Latinos, whose rate of ownership, while low, has stalled during the downturn but has not fallen.

Read the full article Homeownership Losses Are Greatest Among Minorities, Report Finds on the New York Times' Web site.

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