Foreclosure by Race and Ethnicity: Demographics of a Man-Made Disaster

Among the report’s findings:

  • An estimated 2.5 million foreclosures were completed from 2007 – 2009 and an estimated 5.7 additional ones are imminent. (Independent estimates have suggested that up to 13 million homes will be lost through 2014.)
  • On completed foreclosures, most on mortgages made between 2005 and 2008, we estimate that 56% involved a white family.  But African American and Hispanic families have received a disproportionate share, even when accounting for income: Nearly 8% of both groups have already lost a home, compared to 4.5% of white borrowers.
  • The great majority of homes lost were owner occupied, as are those at imminent risk of being lost.

via Demographics of a Man-Made Disaster.

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