Building Opportunity

October 06, 2009

Original publication: Report published by Ohio State University's Kirwan Institute

Date of publication: September 30, 2009

"There is ample evidence of the disproportionate impact of economic recession on Black and Latino communities. United for a Fair Economy (UFE) recently found that while the U.S. has been in a recession for more than a year, 'people of color have been in a recession for nearly five years and have entered a depression during the current economic crisis.' ... The foreclosure crisis has resulted in immense loss of wealth in Black and Latino communities, and it has been estimated that people of color may have lost as much as $213 billion due to subprime loans taken out between 2000 and 2008."

Read the full report (PDF) by the Research Institute on Social and Economic Policy (RISEP), the Miami Workers' Center, and the Kirwan Institute.

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This is perfect that people can get the home loans and that opens new chances.