Did Racism Contribute to the Foreclosure Crisis?
Two scholars at the Woodrow Wilson School at Princeton University concluded after examining data from the 100 largest U.S. metropolitan areas that black segregation — and to a lesser extent, Hispanic segregation — is a predictor and cause of foreclosures in the U.S.
“Ultimately, the racialization of America’s foreclosure crisis occurred because of a systematic failure to enforce basic civil rights laws,” the authors wrote.
The authors said that their research suggested that tighter regulation of lending, rating, and securitization practices, as well as greater civil rights enforcement, are necessary to avoid future catastrophic financial losses.
We want to hear from You: Do you agree with the findings?
Sources: American Sociological Association (09/30/2010)
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