1. Blacks and Hispanics Hit Hardest by Recession
... percent, while black households' wealth declined by 53 percent. However, the wealth of white households only fell by 16 percent during that time (Eichler). In other terms, median wealth - assets minus debts - greatly differed for the three ethnic groups. Black households had $5,677 in wealth on average, Hispanic households had $6,325, and white households average $113,149 in wealth. Furthermore, unemployment rates ... because they were more exposed to the bubble simply because of the geography, partly because they actually followed the housing bubble for construction jobs," he said. "Whe...
- Word Count: 551
- Approx Pages: 2
- Has Bibliography
- Grade Level: Undergraduate