The housing crash of 2008 is something that really interests me. Not only did it play a major role in shaping our economy but financial markets collapsed because of it. I am taking a deeper look into the housing bubble’s adverse affect on minority wealth creation in the United States. In my mind, this is an important topic. The main form of wealth creation is owning a home and if that is taken away from individuals how will minority families and families in general build wealth in the United States? I also want to take a look at why the crash was a good thing for the mortgage backed securities market.
I hope to show that housing is a diving force behind wealth creation within communities. Housing is roughly 17% of our GDP and I am aiming to show how important home ownership is.