Most wealth in the United States is gained from the appreciation of home values over time. Twenty-five percent of Americans’ wealth, the sum of all physical and financial assets, comes from the increased value of homes — and that number is nearly 50% for people of color.
However, according to a new study by the Russell Sage Foundation, household net worth declined steadily between 2007 and 2013. While wealth certainly was lost at the top of the distribution, households at the lowest end of the spread were hardest hit, losing 60% of their wealth. Since 2007, approximately one-quarter of all Latino and African-American borrowers have lost their homes to foreclosure or are seriously delinquent, compared to just under 12% of white borrowers.
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