"Homeowners of color typically had lower housing equity, because they purchased homes of lower value with higher mortgage debt later in life,” wrote research associates, who have some suggestions for policymakers.
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By Region, Lowest-Priced Homes Survived Housing Crisis
Lower-priced homes stood a better chance at survival during the 2006-2009 housing crisis, according to an Urban Wire blog post by the Urban Institute and authors Jun Zhu and Bing Bai. Not only did cheaper homes recover more quickly from the bust, according to national averages and location data found by the Urban Institute, cheaper homes became more expensive during the boom as well.
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