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Unformatted text preview: Sub-prime lending (study from 2000) Lower-income blacks 2.4x as likely to get a sub-prime loan as the same income bracket in whites Upper-income blacks 3x as likely to get sub-prime loan as the same income bracket in whites Rate of Denial of Loans (1990) White Blacks <80% of median income 20% 38% 100% - 120% M.I. 10% 23% >120% of M.I. 6% 24% Net Wealth - Everything you own minus your debts Net Wealth in 2002 Census Median Net Wealth White (non-hisp) $87,056 Black $5,446 Asian/Pac Isl $59,292 Cumulative advantage (disadvantage) Where you start out has a huge impact on where you end up Excluding Equity 19,079 1,102 15,244...
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- Fall '08