Maya Rockeymoore: Once you have foreclosures happening left and right, property values in the neighborhoods where you tend to live, or in the cities where you tend to live start heading straight down. And that actually happened.
That’s Maya Rockeymoore, president of the Center for Global Policy Solutions. She’s an expert on the subject. You might remember her from Episode 2—when she talked with us about wealth disparity and minorities.
Rockeymoore: So for African Americans, Latino Americans, and Native Americans, Asian Americans, they fully lost half of their collective net worth as a result of those two twin crises by 2009. And many of these households—most of these households have yet to recover.