Housing Bubbles: What we can learn from 2008

While this affected all communities, the ACLU study displays that the subprime financing disproportionately affected Black communities, even accounting for upper income Black households. Additionally a report from the Department of Treasury found that Black and Latinx households were almost 50% more likely to face foreclosure then white households. This evidence of racial disparities in subprime lending shows Americans the social impact of the 2008 housing bubble burst.