Multimillion dollar mansion sales have increased 25% while the overall housing market has declined 30% since 2007, showing that the wealthy are faring better during the recession. Data from Birmingham, Alabama shows high-end home sales rising 21% in August 2012 compared to the previous year. Meanwhile, middle and lower classes face greater risks of poverty as one in ten New Jersey homes sold in 2011 were in foreclosure proceedings and nearly 211,000 households received foreclosure filings in February 2012, though this was a 19% drop from the prior year. However, foreclosures have disproportionately impacted African American and Latino communities.

1. "Housing: The Rich and the Rest"
By:Asael Zendon
Sociology, period 7, 2012

2. "Multimillion dollar mansion sales are up 25 % compared to the rest of the market. Which has suffered
a 30% decline in price since its peak in 2007"

3. For example, in "Birmingham [Alabama]...multimillion-dollar mansions are selling quickly. Sales this
August were up 21 percent from the previous year."

4. Also "the country club [ in Birmingham] has ended its discounts on new membership"

5. This illustrates the fact that right now in the US, the rich are getting richer. but there is another side to
this.

6. The middle and lower classes are getting closer to or deeper in poverty.

7. For example " One in 10 New Jersey homes sold last year was in the foreclosure process".

8. And February 2012, "... nearly 211,000 [households] got hit with some sort of foreclosure filing...
which is down 19% since january 2011. "So things are getting little better.

9. But sadly, foreclosure are mostly affecting african-american and latina(o)s.