The root of these issues began far back into the history of the U.S. back to the era of the slave economy but more recently in the 20th century, post-abolition, when African-Americans were considered “citizens” they were given a place in society to live life and achieve the “American dream.” The American dream of course begins with …show more content…
Class mobility in America has fallen so significantly that mobility here is more difficult than in all of the world’s rich countries (Koechlin 16). It is increasingly difficult and unlikely for lower-income families to “break the cycle” and see their children climb the proverbial ladder of success by the end of the 1990’s and into the 2000’s many disadvantaged African-American’s had finally broke through after years of failing. This however was reversed as they were targeted for sub-prime …show more content…
The report continues to connect the disproportionate foreclosures to a widening of socioeconomic disparities. If communities of color have suffered the most from the sub-prime mortgage crisis their tax bases will decrease, their infrastructure will decline, businesses will close and opportunity will vanish, schools will decline in quality, and those with homes will be unable to relocate due to climbing debt and those without homes will face the reality many are experiencing—a lack of affordable housing (Responsible Lending,