Description

The Foreclosure Crisis, the American Dream, and Minority Households in the United States: A Descriptive Profile

Our purpose in this article is to examine how the home mortgage foreclosure crisis in the US affected racial and ethnic minority householders. The article is divided into the following sections: a brief overview of the home mortgage foreclosure crisis, the home mortgage industry and minority householders, foreclosure rates for minority householders, and the social justice context for minority householders. Although the home mortgage crisis resulted in foreclosure for many American householders, we argue that relative to white householders, minority householders lost more of their equity wealth as a result of losing their homes and minority neighborhoods experienced severe social disorganization issues, such as increased crime and the transition of single-family housing into rental units.

racial inequality, predatory lending practices, minority families, equity wealth, social disorganization

Citation: Social Justice Vol. 40, No. 3 (2013): 6-15