I can see the rationale in those numbers. For instance, in my neighborhood, over the past 7 or 8 years, it's been either Blacks or Hispanics moving in, and unfortunately they have been buying at the peak of the market.
Here are a few examples (pulled from a real estate website):
1/05/05: $375,000: nice 3br, 3ba all-brick L-shaped rancher, built in late 70's, on 1/2 acre. Very nice house, and they've done a pretty good job keeping it up. But if forced to sell, I imagine it would fetch maybe $250K at best today. Zillow estimates $270K.
9/27/05: $350,000: old 2br/2ba shanty on 1.99 acres. Used to be a railroad tower back in the day for the WB&A railroad. Foreclosed on 11/22/10, and re-sold 6/29/11 for a mere $110,000! Honestly, I wish I'd bought it...it's on a nice piece of land. I figured the house would be a tear-down, but the people who bought it are fixing it up. Zillow.com gives this one $113K.
5/23/06: $330,000: modest 3br/2ba cape cod on 1/2 acre, built around 1940 I'd guess. They'd be lucky to fetch $200K today. Zillow estimated $199K.
5/4/07: $450,000: old 3br/1ba house dating back to around 1920, on 4.28 acres, but much of it wetlands. Previously bought by a developer in 2005 for $475K, but the county set up too many roadblocks so it wasn't profitable for him to tear down and develop it. Current owner wanted to put in a church, but also got turned down. Dunno what it's worth now, but about a mile away, there's a much nicer place for sale, on 3+ acres, for only $350K, so I'm sure this one is well south of that. Zillow.com gives this one $199K, too.
11/2/07: $375,000: 1924 Sears and Roebuck home on 1/2 acre. Originally a 2br/1ba, but added onto in the early 80's. It's now a 3br/2ba, but I question the quality of the second bath...alot of the work was done without a permit, as the guy who bought it in 2003 for $144K slowly put lipstick and makeup on this pig. Anyway, I'd guess it's worth $200K at best. Let's check Zillow... wow, they only give it $174K!
Now, I'm sure there are plenty of White people who have lost their shirts, as well. However, in the cases I've mentioned above, all except one, the Sears and Roebuck home, had been owned by Whites. Some of them had been original owners. In most cases, they profited handsomely from their sale. But, unfortunately, the incoming owners were sort of left holding the bag, as the bubble burst.
In the past, Whites usually had a higher percentage of home ownership than Blacks or Hispanics, so on average, I'd imagine they had more equity saved up. So, even if they bought an overpriced home after selling their overpriced home, they at least had some equity to put down for a decent payment.