sy prove that the explanatory power of segregation exceed that of all the other factors that are typically taken into account while analyzing foreclosure crisis as well as major factors that contributed to it. An important part of the paper is dedicated to showing how ineffective was Community Reinvestment Act with regard towards home owners who belong to a particular minority. In other words, this piece of legislation was not able to bring in positive changes in the situation. While developing their idea, the authors point out the fact that racial segregation was able to structure not only the causes of the foreclosure crisis, but also affect its geographic as well as social distribution, shaping the consequences of this negative economic event. Another important point which is highlighted by the authors is that racialization of the crisis in not new, but a phenomenon which can be traced back for a considerable amount of it. In other words, it reflects the systematic failure that occurs in the social environment of the United States. Finally, the authors prove the necessity to tackle racialization of various socioeconomic processes with the help of new pieces of legislature; they articulate the necessity to create federal program that would monitor such inequality.
Now, it may be particularly important to analyze every finding that was brought up in the paragraph above from a sociological perspective. Thus, one would make no mistake that the phenomenon of residential segregation is primarily caused by disparity in income; the latter, in its turn, often reflect the racial division of the society. That is why there is no wonder in the fact that residential segregation parallels racial segregation which occurs economically. Therefore, it is rather obvious that the foreclosure crisis should not be viewed independently, but be regarded as an outcome of the society that features some unsettled racial issues.
It must be noted that in the course of presenting the