Dive Brief:
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Home values declined by 7% between 2010 and 2013—but not equally among homeowners of different races, according to the Economic Policy Institute.
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In an analysis of the Federal Reserve Board’s Survey of Consumer Finances, the Washington think tank found that the value of homes owned by black Americans dropped 18.4%, while home values among white homeowners fell 4.6%.
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Latino households lost 3.7% of their value during that time period.
Dive Insight:
The report notes that the gap between changes in the value of homes owned by blacks and Hispanics had narrowed over the past few years until the latest report. In 2013, 44% of Americans of both demographic groups were homeowners. EPI researchers offered a possible explanation for the growing gap: The housing recovery has been slower in the South and Midwest, which have large black populations.