During the past seven years, African American wealth has been devastated as a result of the foreclosure problem in the United States. According to recent stats, nearly 53% of Black wealth was depleted as a result. Michael Fletcher, national economics correspondent for the Washington Post, highlighted the impact of the housing crisis on Prince George’s County in Maryland. Considered to be one of the most affluent Black counties in America, this municipality has not escaped the erosion of wealth as a result of the nation’s economic downturn. Roland Martin and ‘NewOne Now’ looked at the foreclosure crisis latest victim, Prince George’s County and how important home ownership is to African Americans building as well as sustaining wealth.
By, NewOne Now