The Political Bear

Articles about the subprime market drive me crazy.

They had small means and big hopes of owning a house. But African-Americans snared in the US mortgage crisis have seen the American dream turn into a nightmare many call “financial apartheid.”

The fact is that the availability of subprime loans allowed more families with lower incomes to own homes than ever before.  In fact, most of these home buyers still own their homes.  numbers…

This fact was missed by Congress, missed by the media, and only lazily picked up by bloggers.  The subprime market collapse is a tragedy for the families that are losing their homes, but it was a savior and wealth creator for many more.

This entry was posted on Monday, January 28th, 2008 at 8:25 am and is filed under analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.