The Subprime Crisis and African Americans

Abstract

There is a long history of unfair housing and lending practices in the United States and generally, African Americans have been disproportionately negatively impacted by these activities. In order to understand the current economic crisis and its impacts on African Americans, one must first explore the historical spectrum of discriminatory actions leveled against blacks in housing and mortgage lending. This paper discusses the recent subprime mortgage crisis and identifies the ways that African Americans were impacted. It provides an historical review of mortgage lending and housing discrimination and the role that public policy played in these practices. It then chronicles the subprime mortgage crisis and connects the consequences of lending policy run amok by targeting minority communities.