|
||||||||
|
|
|
|
|
|
|
|
|
|
« CWS: The Most Accuratest Blog in the World | Main | More Misery in Earnings » October 20, 2008 Minorities and the Housing MarketI was doing some research on any connection between the rise of minority homeownership and the crash of the housing market. Personally. I'm skeptical but I'm open to the facts. I guess it's a hot issue judging by these two quotes. The four biggest problem areas for housing (by price decreases) are: Phoenix, Arizona; Las Vegas, Nevada; Miami, Florida, and San Diego, California. Explain exactly how these affluent, non-minority regions were impacted by the Community Reinvesment Act? About half of all mortgages for blacks and Hispanics are subprime, versus roughly one-sixth for whites. Not surprisingly, the biggest home price collapses have occurred in heavily Hispanic cities such as Las Vegas, Miami, Phoenix, and Los Angeles. I don't have anything profound to add, but I thought it was interesting to come across this two quotes within a few minutes of each other. Posted by edelfenbein at October 20, 2008 3:47 AM |
|
 |
||