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

[Denise Narcisse]

Hi Yulanda,

1. It is early. (I'm supposed to be getting ready to meet my new 
students, but I am on the Internet replying to emails from old ones. 
YIKES!).  Thanks for sharing this.  I'll read it during my office hours 
or later at home.  

2. As you say, this news is troubling, but not surprising, given the 
well-documentd racial disparity in wealth.  .... 

3. Giving a "shout-out" to the seminal work of  sociologists Oliver and 
Shapiro---one black, the other white---that showed African Americans 
possess about 15 cents (yes, 15 cents) in wealth for every $1.00 that 
whites possess.  And what is the largest wealth assest for MOST people? 
You guessed it:  A home.

Walk well.

Denise A. Narcisse, MPA, Ph.D.


Yulanda McCarty-Harris wrote:


>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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>From: emailthis at ms3.lga2.nytimes.com 
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>On Behalf Of ymccartyharris at ysu.edu
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>Subject: NYTimes.com: Minorities Affected Most as New York Foreclosures 
Rise
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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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