Housing Meltdown Hurts Minorities the Most

According to a study by an advocacy organization called United for a Fair Economy, minority Americans have been the biggest losers in the subprime mortgage crisis. The study concludes that African-Americans and Hispanics have lost as much as $213 billion in wealth over the last 8 years because of predatory lending practices. The study also pointed to data from the Home Mortgage Disclosure Ace, which suggests that 40% of African-Americans given subprime housing loans could have qualified for cheaper mainstreem mortgages.