The National Council of La Raza (NCLR) partnered with the Center for Community Capital (CCC) at the University of North Carolina to produce their recent report titled The Foreclosure Generation: The Long-Term Impact of the Housing Crisis on Latino Children and Families.
NCLR’s findings reflect the impact of foreclosures on family situations and lifestyles. They also find that the long-term implications of current foreclosures will affect generations of Latinos in America. They say:
The subprime lending and housing crises are expected to result in a loss of as much as $98 billion in collective Latino household wealth, a devastating figure given that Latinos and their children will constitute major growth in our population and households over the next several decades. Our leaders must deploy concrete strategies that better serve communities of color, strategies that are proportionate to the depth of the foreclosure crisis and the urgency that comes with a family s last paycheck and the eviction notice that follows.
Click here for a one-page summary of the study’s findings (pdf).