Plummeting home values, as well as home foreclosures, have had a big impact on the distribution of
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Plummeting home values, as well as home foreclosures, have had a big impact on the distribution of wealth because blacks and Hispanics have a much higher share of their wealth tied up in the value of their homes. Hispanics experienced the biggest loss of wealth because many bought homes in states where the real estate market had the steepest plunge in value.
Explain how the events described in the news clip changed the distribution of wealth. Which quintiles would experience an increase in their share of wealth?
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A households wealth is the value of the things it ow...View the full answer
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