"83LowRider" wrote in message
...

"Datesfat Chicks" wrote

Um ... has it been demonstrated that the mortgage meltdown is due to
minority lending (as is claimed in the article)?

Any citations there?

It was my impression that the issue was racially diverse.

Without that linchpin, you're just quacks blaming minorities for
everything. ("Why is it raining today, daddy? Because of Rosa Parks
...")

So, the changes in policy and worldview that led to the gigantic
increases in mortgage lending to minorities seen over the last decade
(with total mortgage dollars written per year increasing [6] 691% for
Hispanics and 397% for blacks from 1999 to the peak of the Housing
Bubble in 2006) unsurprisingly led to world-historical levels of mortgage
defaults in 2007-2009. After all, blacks and Hispanics were still
defaulting
at very high levels when they weren't getting as much mortgage lending.
The law of diminishing marginal returns suggests that throwing more
mortgage money at them wasn't going to improve their credit worthiness.

In 2004-2007, minorities received half of subprime mortgage dollars
handed out. A [7] new 2008 Boston Fed study shows minorities in
Massachusetts getting foreclosed on subprime loans at twice the race of
whites, suggesting that minorities accounted for a sizable majority of
subprime dollars defaulted.
http://www.amren.com/mtnews/archives..._fha_mortg.php

American Renaissance is a white supremacist rag. Got a credible source?

Datesfat