The home equity of Hispanic homeowners fell by a gut-wrenching 51 percent between 2005 and 2009, according to a study of household wealth released by the Pew Research Center today. In 2009, the median home equity of Hispanic homeowners was just $49,145, down from $99,983 in 2005, after adjusting for inflation. This was by far the biggest decline among racial or ethnic groups. Behind the decline is the fact that many Hispanics live in the states hardest hit by the collapse of the housing bubble, such as California.
The home equity of Asian homeowners fell 32 percent between 2005 and 2009 (from $219,742 to $150,000). Black homeowners saw their home equity fall 23 percent during those years (from $76,910 to $59,000). White homeowners experienced an 18 percent decline (from $115,364 to $95,000).
Source: Pew Research Center, Wealth Gaps Rise to Record High Between Whites, Blacks and Hispanics
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