Minorities and the Housing Market

I 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.
Barry Ritholtz:

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?

Steve Sailor:

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 on October 20th, 2008 at 3:47 am


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