But the storm has fallen with a special ferocity on black and Latino homeowners, the analysis shows. Defaults occur three times as often in mostly minority census tracts as in mostly white ones. Eighty-five percent of the worst-hit neighborhoods — where the default rate is at least double the regional average — have a majority of black and Latino homeowners.Ummmm...how do you comment on this factual reference without some half-wit calling you a racist? How do you evaluate this fact in a politically correct fashion?
And the hardest blows rain down on the backbone of minority neighborhoods: the black middle class. In New York City, for example, black households making more than $68,000 a year are almost five times as likely to hold high-interest subprime mortgages as are whites of similar — or even lower — incomes.
“I don’t want to say it’s in the cultural DNA, but a lot of us who are older than 30 have some memory of disappointment or humiliation related to banks,” Mr. Grannum said. “The white guy in the suit with the same income gets a loan and you don’t?”The simple fact of the matter is that the New York Times thinks that the amount of melanin in a person's skin or their family origin is an important factor in the make-up of those individuals who rather naively and ignorantly signed a legal document without making an effort to determine just what that document entailed. The excuse is how minorities have been treated in the past...on a pure anecdotal basis. They fail to tell you how many of these foreclosed homes were mortgaged by individuals under or over 30 (as if that should be a factor).
“So you turn to local brokers, even if they don’t offer the best rates.”
I kept waiting for the phrase "poor decision making" to debut in the piece. I saw it nowhere. I kept waiting for "Clinton encouraged sub-prime loans" to show up...never did. I kept searching for "Democrats refused to clean up the sub-prime mess that they created, encouraged, and ignored" to magically appear in the article.
There is an asteroid slated to hit the Earth tomorrow. All life as we know it will die in this "Ending Event." Minorities will be hardest hit...