I hardly know where to begin. The continuing population growth of poor and minorities
, far in excess of middle and upper income white households
, just makes it harder for poor and minorities to gain and keep traction in the U.S. economy.
That their "net worth" declined during the financial mess and recession is not surprising
, since those same groups were the most likely to take advantage of housing prices to create Equity lines of credit, and second Mortgages. They are for sure the greatest number of pending and completed foreclosur
es, particular
ly in the states mentioned as having the greatest named population
s.
Looking forward, one way to build equity and deal with the housing overhang is to utilize the over one million unemployed poor and minority constructi
on workers to acquire and rehab delapidate
d and abandoned housing in the inner cities. Jobs, job skills and housing seems like a worthy win-win to push for.
Read the Article at HuffingtonPost
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