Housing bust hit blacks, Latinos hardest

Their homes are gone, their credit is shot and their rent is often more expensive than a mortgage payment.

The housing bust affected people of all races, but it hit the region’s black and Latino populations hardest of all, causing minority homeownership rates to fall to their lowest level in decades, new Census 2010 data show.

About 36 percent of the region’s blacks own their homes, down from 40 percent in 2000. For Latinos, the homeownership rate dropped from 49 percent to 47 percent during that time.

By contrast, the homeownership rate for whites – 67 percent – and Asians – 62 percent – rose during the last 10 years.

Read more at the Sacramento Bee


About Bob Voelker

Vice President and General Counsel, StreetLights Residential - Building Places that Life the Human Spirit.
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