American homeownership has long been characterized by racial, ethnic and geographic inequality. Inequality in homeownership, in turn, has contributed to racial and class segregation and inequality in other aspects of American life. Recently, however, there have been signs of apparent progress, as minorities and low-income groups have achieved all time record high rates of homeownership. We argue that, as the old inequality in home mortgage lending has slowly diminished, a new inequality has emerged, characterized by less favorable loan terms, sometimes-problematic forms of housing, and a lack of adequate consumer protection from predatory and abusive practices.
America is a land of opportunity where every dream can come true. The country is made up of all kind of race, color, culture, etc. All of these differences greatly contribute to make a United States. No matter who one is, one has slice of the American dream. A major part of the American dream is to own a home. In many well-developed areas a home price is usually so high compared to an average person income. Therefore, institutions to give them a mortgage loan. This makes to decide whether or not the buyer can buy a home. For decades, there have been a lot of discrimination problems in mortgage lending that disappointed many minority buyers. Disputes and lawsuits against financial institutions have broken out. The two sides are still fighting today but in a more subtle way.
Banks deny that they discriminate while community activists argue that most of the decline reasons are discrimination not under qualification. This is a complex issue and therefore, it needs careful analysis and reflection in order to discover the truth of the matter and come into a conclusion. One way to show whether financial institutions practice discrimination or not are to study statistics and surveys. The Federal......
