Median household wealth among Hispanics fell by 66 percent from $18,359 in 2005 to $6,325 in 2009, according to a new report by the Pew Research Center’s Social & Demographic Trends project.

That was the largest percentage drop for any racial or ethnic group, the center reported. During the same period median household wealth declined 53 percent among black households and 16 percent among white households.

The Pew Research report provides the first look at how the Great Recession impacted household wealth, the center reported. It finds that plummeting house values were the principal cause of the erosion in wealth among all groups. However because Hispanics derived nearly two-thirds of their net worth in 2005 from home equity and a disproportionate share reside in states that were in the vanguard of the housing meltdown, Hispanics were hit hardest by the housing market downturn.

Click here to read the entire report at the Pew Research Center.

Click here to read a story on the report on CNN Money

Click here to read a story on the report on MSNBC.com

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