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Friday, August 22, 2014

Minority Mortgage Market Experiences During the Financial Crisis

Via Vox EU:

Minority mortgage market experiences leading up to and during the financial crisis, by Stephen L. Ross, Vox EU: The foreclosure crisis that followed the subprime crisis has had significant negative consequences for minority homeowners. This column reviews recent evidence in the racial and ethnic differences in high cost loans and in loan performance. Minority homeowners, especially black homebuyers, faced higher price of mortgage credit and had worse credit market outcomes during the crisis. This is largely due to the fact that minority borrowers are especially vulnerable to the economic downturn. ...

    Posted by on Friday, August 22, 2014 at 09:51 AM in Economics, Financial System, Housing | Permalink  Comments (11)


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