Sep
26

Show me the Money

While tough mortgage-lending standards are hurting housing, so is a lack of wealth. A census report shows 33% of Hispanics have zero or negative net worth in ‘09 up from 23% in ’05. For blacks the portion rose to 35% from 29%, for whites it increased to 15% from 11%. 25% of all black and Hispanic households owned nothing but a car in ’09. Just 6% of whites and 8% of Asians were in that situation.

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