The median net worth of Hispanic households fell by 66% from 2005 to 2009, compared with a 53% decline for black Americans

Both are far worse than the 16% decline for white Americans. For Hispanics — many living in California, Arizona, and other epicenters of the bust — home equity was cut in half. Hispanics were 1.7 times more likely than non-Hispanic whites to have hybrid or option adjustable-rate mortgages, while black borrowers were 2.8 times more likely to have higher-rate loans than non-Hispanic whites, according to a 2011 report by the Center for Responsible Lending. Nearly 12% of Latinos have lost their homes after defaulting on their loans, according to the report. The figure for black homeowners is 10%, almost double the foreclosure rate for non-Hispanic whites.