The San Francisco-San Jose metropolitan area is one of the only regions in the country to have fully recovered from the 2008 burst of the housing bubble. Prices in San Francisco have soared back above previous peak levels. But, according to new research from the Urban Institute, the recovery’s mortgage market has disproportionately favored white and Asian households. Mirroring national trends, San Francisco and San Jose have seen mortgages for African Americans and Hispanics plummet from their highs in 2005, at the height of the last boom. The share of mortgages going to Hispanics fell from 21.8 percent to 6.2 percent, while the proportion going to African Americans decreased from 5.9 percent to 1.6 percent.