1. Blacks and Hispanics Hit Hardest by Recession
... simply because of the geography, partly because they actually followed the housing bubble for construction jobs," he said. "When construction jobs disappeared, they also were disproportionately hit" (Handley). Whites were not nearly as affected by the state of the housing market because they rely less on housing as an asset. In fact, the richest households garner much of their wealth from stock, while middle and lower class families ... gain their wealth from housing. In a recent speech, Obama acknowledged the discrepancies between minority groups and vowed to reinstate pre-recession st...
- Word Count: 551
- Approx Pages: 2
- Has Bibliography
- Grade Level: Undergraduate