The foreclosure crisis that drove approximately 9 million people across the United States from their homes disproportionately displaced black and Latino households and led to a spike in segregation along racial lines, a new study finds.
In fact, displacement was so dramatic that Matthew Hall, assistant professor at Cornell University and lead author of the study, told Common Dreams that the crisis should be seen as a “mass migration event.”
“We found that the racial patterns of the foreclosure crisis are shocking and perhaps even more stark than we knew before,” said Hall, who is a demographer.
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The Cornell University analysis was published online in late April and is set to be included in the June issue of American Sociological Review.
Examining foreclosure rates in urban areas between 2005 and 2009, researchers found that black neighborhoods faced 8.1 foreclosures per 100 homes, and Latino neighborhoods faced a rate of 6.2 per 100 homes.
This compared with the average of 2.3 foreclosures per 100 homes in white neighborhoods, meaning that majority black and Latino neighborhoods faced home-loss rates at approximately three times that of white areas.
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