Buying Houses at Bubble-Inflated Prices Hurt Minority Wealth More Than Bad Loans

The Post has an interesting piece on a St. Louis Federal Reserve Bank study which shows that African American and Hispanics with college degrees have far less wealth than their white counterparts. (Stay turned for CEPR study showing this story with wages.) The study also shows a large decline in wealth for African Americans and Hispanics with college degrees over the last two decades.

It attributes much of this decline to subprime mortgages pushed by lenders during the bubble years:

"But Afri...