[bfsa] FW: NYTimes.com: Minorities Affected Most as New York Foreclosures Rise

Yulanda McCarty-Harris ymccartyharris at ysu.edu
Sun May 17 22:44:34 EDT 2009


I thought this was a very interesting article, but it is not surprising.
Remember, there was a time when brokers were begging minorities to purchase
homes and given them all kinds of credit to purchase over and above their
means. 

 

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NEW YORK REGION   | May 16, 2009 
Minorities
<http://www.nytimes.com/2009/05/16/nyregion/16foreclose.html?emc=eta1>
Affected Most as New York Foreclosures Rise 
By MICHAEL POWELL and JANET ROBERTS 
Defaults occur three times as often in predominantly minority areas of the
region as in mostly white ones, a New York Times analysis finds, with the
black middle class hit hardest. 


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