Map: Subprime mortgages issued in Maryland counties, 2006

Thursday, July 21st, 2011

African-American and Hispanic borrowers in the D.C. metropolitan area were far more likely to get subprime loans than white borrowers with similar credit scores and incomes, according to a 2009 study by the National Community Reinvestment Coalition. In Prince George's, the nation's wealthiest majority-black county, more than 40 percent of all loans were subprime in 2006, near the peak of the housing boom. There, as in every other Maryland county, black and Hispanic borrowers were far more likely to receive a subprime loan than white borrowers.

Kat Aaron contributed to this story.

What Went Wrong

Donald Barlett and James Steele are revisiting America: What Went Wrong, their landmark 1991 newspaper series, in a new project with the Investigative Reporting Workshop. Over the next year, the project team will examine how four decades of public policy has shaped America's ongoing economic crisis.

Issues

Back Story

The authors talk about What Went Wrong

Donald Barlett and James Steele talk about the project, and why they decided to revisit a book they wrote two decades ago, in a series of video clips produced by the Workshop.

Nation's Story

Who pays the taxes?

We feature charts, maps, photos and other visualizations that reflect the state of the economy as part of our What Went Wrong project. This column chart shows the growing disparity between what individuals and corporations pay in taxes. In the 1950s, the difference was 22 percent. Recent figures show the difference is 62 percent.

Recent Blog Posts

Rags to rags: Economic mobility hard to come by

New Pew Center on States report confirms that moving up the American economic ladder is difficult, even though most people have more income than their parents.

Homelessness takes it toll on Florida's youngest

Florida, as a center of the housing boom, still struggles to recover from the Great Recession. Financial stresses and widespread foreclosures have placed families in precarious situations, resulting in a spike in child homelessness. Susannah Nesmith reports in the Broward Bulldog.

Older workers face challenges in Silicon Valley

An advanced degree and experience in the tech sector should be a ticket to a job in today's economy. But older workers in the heart of the new economy, Silicon Valley, are finding their resume is not the issue. Aaron Glantz reports in The Bay Citizen.

Subscribe to the RSS Feed

Read an Excerpt

The Betrayal of the American Dream on Google Books

Check out the first chapter of Barlett and Steele's 2012 book here.