The analysis shows the racial and ethnic impact of the economic meltdown, which ravaged housing values and sent unemployment soaring. It offers the most direct government evidence yet of the disparity between predominantly younger minorities whose main asset is their home and older whites who are more likely to have 401(k) retirement accounts or other stock holdings.
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12 comments:
This is a very skewed report. How many of these households are married couples combined income vs. how many are single income homes. It is proven that many people have kids and don't get married just so they can get more benefits from the government.
"It is proven that many people have kids and don't get married just so they can get more benefits from the government."
Please do us all a favor and site your reference for this statement
10:38....exactly. There are so many variables that would contribute to this "statistic", to blame it on the recession or the uneven recovery is a reach. A big one. It doesn't even mention the cultural and sociological issues that would (and do) contribute to disparities in income and assets.
Anon 11:04 just Google Government Assistance for single parents and see what you get.
With all that why would you get married and lose that juicy assistance.
I hope it keeps going in that direction. "Remember the Alamo"
If Obama gets his way, and another 4 years, he will distribute the wealth around so no one is on the tail end of the list.
One way to read this is that whites simply invested better or were not in housing with 5 year ARMs and the "bubble" payments that Fannie, Freddie and Clinton pushed on minorities. I think this is the sort of thing that is published to try to incite minorities to claim that "the system" is "keeping them down", which is false and funny given the fact we have a black President.
11:04... I'll cite every single trip I make to the grocery store or walmart. In addition, I'll raise you every time a clerk has seen me buying baby formula and suggested I get on WIC because it's "great" and that's what they plan to do when they have babies. (Who plans to go on WIC????) This CONSISTENTLY happens! Do a study on that.
lol, I knew this would bring out the most well-informed and intelligent responses.
I think its odd that no one has made the connection of this report to the Community Reinvestment Act.....
CRA was designed to help lower income people afford houses, which led to the housing boom and contributed to the subsequent market down turn. Most of these people were hurt from the very program that was designed to help them.
And you people want MORE Government?
3:36....not ALL of us want MORE government....only the ones who depend on them.
Everyone I know who bought a house they couldn't afford in the past 5 years is white, where is all this pushing the housing crisis on the minorities coming from?
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