Home ownership declines for most minorities, particularly black households.

Advertisements

One thought on “

  1. What this means was highlighted by Bernanke at hears this week: home loans were made with no effort to demonstrate that folks who received the loans could support the financial commitment. The bad paper that resulted was bundled and resold and once the lack of real equity was determined the bubble burst as should have been expected. This kind of feel good manipulation of capital markets by politicians historically falters and drags all the good paper down with it. The economics of housing were well established and the rising tide lifted all boats that made economic sense. There will be little or no progress in home ownership until genuine market forces are reestablished. This is of course basic Econ 101.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s