| | #51 (permalink) | ||
| Sonic Determination | Re: Presidential Debate: Round 2 Here is an article from the Wall Street Journal pointing out that the foreclosure crisis is not focused around low income housing. Also on this page is a link to a series of highly detailed demographics showing the concentration of delinquent mortgages across the country per quarter since 2001, and the mean value of the loans by geographical region over the same periods, among other highly detailed demographic charts. It is clear that this crisis of foreclosures is spread among income groups suggesting that there is for more to this than just risky loans that lenders were forced to give to the low income market. Developments : Changing Demographics of the Foreclosure Crisis Quote:
The Wall Street Journal Online - Interactive Graphics ---------------- When what you believe is refuted by evidence, you are faced with a choice. | ||
| | #52 (permalink) | |
| Creating | Re: Presidential Debate: Round 2 In looking at the demographic charts did you happen to notice that a great number of the cities with the highest foreclosure rates were retirement and vacation areas? In Naples Fl. for instance, many people were buying second homes or vacation homes, and investors were buying to flip on the appreciation. Could it be that these are among the more expensive properties going to foreclosure? The charts did not indicate whether these were primary residences or second homes. These things happened after the initial problem started. Are we done on this subject? | |
| | #53 (permalink) | ||
| Sonic Determination | Re: Presidential Debate: Round 2 Quote:
Could those have also been considered "risky" loans? Who was forcing lenders to qualify those? (intended rhetorically) The problem has been systemic. There's plenty of blame to go around. Now let's see who has the courage to overcome it and repair the damage before we fall into another depression. It's time to focus on remedies. Yes, I'm done. ---------------- When what you believe is refuted by evidence, you are faced with a choice. | ||
| | #54 (permalink) | ||
| Understanding | Re: Presidential Debate: Round 2 Quote:
...at the risk of promoting an off-topic tangent.... This should probably be on the socialism v. capitalism thread, or at least the conservatives v. liberals thread, but.... ...I thought it was, when I posted #48.... === "While it is true the problem was exacerbated by fraudulent practices by a number of people and institutions, the seeds were planted here:" -Questor (...that whole helping the poor thing, right?) Right, but as I pointed out in post #48, these seeds are a small fraction of the problem. "It was an attempt to change social dynamics without understanding the consequences." -Questor The consequences being a $60 trillion tree, grown by corporate financial creativity which leveraged that seed. That wasn't done to help the poor. I keep trying, but I only find conservatives in these financial institutions. "P.S. in my area $ 300,000. IS low cost housing." -Questor Well I guess we need to stop equating "helping the poor" with "building low-cost housing," eh? ~ ![]() | ||
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