The recovery from the housing crisis of the Great Recession has proven uneven in more ways than one. One not insignificant feature: less lending to minority homebuyers.
Bing Bai, Sheryl Pardo, and Karan Kaul provide insight into recently released Home Mortgage Disclosure Act data (HMDA) on 6 million loans made in 2014.
The takeaway that headlines the analysis: "minority borrowers still lag behind in the post-crisis recovery."
The article provides more on that trend: "Minority households were locked out of the post-recession recovery partly due to the tight lending standards as they tend to have lower income and weaker credit profiles. More recently, some progress has been made to open up the credit box and our credit availability index shows that access to credit has started to slowly increase since late 2013."
The article includes several varieties of infographics to illustrate its points. To explore the data further, see also the Urban Institute's interactive map "that now shows 14 years of mortgage originations by race and ethnicity, from 2001 to 2014." The demographic data presented by the Urban Institute follows a similar narrative presented by recent geographic analysis by the Center for American Progress.
FULL STORY: Despite progress, minority borrowers still lag behind in the housing recovery
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