Foreclosures by Race and Ethnicity: The Demographics of a Crisis
Published: June 18, 2010
Our new research shows that the foreclosure crisis is not over, and runaway foreclosures continue to drain hundreds of billions of dollars in wealth from families, hitting communities of color the hardest.
- An estimated 2.5 million foreclosures were completed from 2007 – 2009, and an estimated 5.7 additional ones are imminent.
- An estimated 17% of Latino homeowners and 11% of African-American homeowners have already lost their home to foreclosure or are now at imminent risk.
- The great majority of homes lost were owner occupied, as are those at imminent risk of being lost.
A “Foreclosure Capital” in the Shadow of the Nation’s Capital
In Prince George’s County, where African Americans are a majority, an alarming number of black families are struggling to fight foreclosure. Louise Golden’s story highlights the impact of the mortgage crisis in one of the nation’s foreclosure hot zones.