This 2008 report examines the racial bias of the subprime mortgage lending crisis, and the devastating wealth loss to people of color that has resulted.
We estimate the total loss of wealth for people of color to be between $164 billion and $213 billion for subprime loans taken during the past eight years.
Just as many policies in the past and today have supported asset development for the wealthy. Today, we need policies to support those injured by the subprime crisis, and must recognize that broad racial and economic inequalities need to be addressed for the success of any policy solutions to the subprime crisis. Download the full report here.