Some minority homeowners still feeling effect of foreclosure crisis

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Some minority homeowners still feeling effect of foreclosure crisis

Some minority homeowners still feeling effect of foreclosure crisis

Consumer Affairs-

For some, the foreclosure crisis of a decade ago is only a distant, unpleasant memory. But an analysis from Zillow suggests it remains a troubling reality for some minority homeowners.

Home prices now exceed their housing bubble highs in most parts of the country, but home values have been much slower to recover in neighborhoods that suffered massive foreclosures.

In predominantly black and Hispanic neighborhoods, home values plunged as much as 50 percent before the market began to recover. Foreclosed homes in black and Hispanic communities have more than doubled in value since then. Even so, they remain as much as 9.5 percent below their peaks.

[CONSUMER AFFAIRS]

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