The recession that began with the housing collapse affected virtually every homeowner in the country. From wealthy neighborhoods to less well-off inner city neighborhoods, everyone felt the pinch. However, now that the recovery seems to be taking hold, there is a noticeable difference in the return of value in Black and Hispanic areas. The effects of subprime mortgages and no doc mortgages are still being felt. For a discussion on economics tied to minority communities and housing values, read more from Zillow here.