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United for a Fair Economy reports that the Subprime Mortgage Crisis is Causing African-Americans to Experience Greatest Loss of Wealth in Modern US History
By:
Sbyrnes
On: 2008-01-15
AFFIL Partner United for a Fair Economy released their annual "State of the Dream" report today. The report, "Foreclosed: State of the Dream 2008" states that the racial bias of subprime mortgage lenders accounts for a 40% difference in losses between whites and people of color. The subprime mortgage crisis will cause African-Americans to experience wealth losses of between $71 billion and $122 billion over its duration.
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