By 2012, the average home equity in Chicago’s African-American neighborhoods had shriveled to $6,800, according to a March report from the Woodstock Institute, a liberal Chicago housing advocacy group. The average equity in homes in the city’s white neighborhoods is $108,000.

Fully 44 percent of homes in Chicago are underwater, compared to a national average of 31 percent, according to a Zillow-generated map.

The zip code located five blocks south of Obama’s house at 5046 S. Greenwood Avenue has an underwater-mortgage rate of 56 percent

http://dailycaller.com/2012/0...