Not even a housing-led recession can shake Americans' faith in the blessings of homeownership.
Those who say their homes are worth less than what they owe on their mortgages are generally younger, less affluent and more likely to be Hispanic or African American than are those who feel they would at least break even if they had to sell today.
For the public, the continuing financial crisis has been overtaken by a jobs crisis; the proportion citing jobs or unemployment as the nation’s most important economic problem has more than quadrupled to 42% since early October and concern about job loss has climbed steeply among affluent Americans.
Job loss data reveal a rapidly worsening situation for foreign-born Hispanics, native-born Hispanics and blacks in the labor market.
States traditionally have been reluctant to cut school funding during hard times, but in the current severe downturn schools are not immune.
Latinos, especially the foreign-born, are feeling the sting of the economic downturn and, in some respects, even more so than the general population.