Belizaire, Marie Laure

Homeownership is a critical component in the American Dream. Minorities are positively affected by owning a home as it showcases prosperity, economic stability, and vast educational services (depending on the neighborhood). Unfortunately, any negative shift in the housing market can change the dynamic and burst the housing bubble. The Great Recession was that negative shift that changed the course of homeowners in the United States and worldwide. The findings of this thesis will note how the federal government failed to regulate the subprime markets and failed to protect minority homeowners. The thesis will also discuss subprime lenders in minority neighborhoods and how unemployment contributed to the increase in foreclosure and the decrease of minority homeownership rates.