On 31 Iul, 22:31, "ScottW" wrote:
"Clyde Slick" wrote in message
...
On 31 Iul, 15:55, "Shhhh! I'm Listening to Reason!"
wrote:
On Jul 31, 11:28 am, ScottW wrote:
There are clear correlations in foreclosure rates with
immigrant concentrations. I put the fault on the banks.
Foreclosure rates are higher in higher growth rate areas
Stable areas have less housing turnover, mortgages are older,
there are more of the newer mortgages in the growth areas. these are
the ones that are foreclosing..
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If you look at it as percent of homes purchased in recent years
it tells a different story.
Reality, hispanics in So-Cal widely employed risky variable
rate mortgages to buy houses they could not otherwise afford.
not necessarily and not specified as being "immigrants
http://www.californiahousingforecast...ty/post/225019
"He estimated that 90 percent of black buyers and 80 percent of Hispanic buyers
took out ARMs, and projected that 19.8 percent of recent African-American buyers
and 17.6 percent of Hispanic buyers would probably face foreclosure. About 44
percent of white buyers took out ARMs, he said, and 8.8 percent could be in
foreclosure."
not specificlly identified as "immigrants'
most African Maericans are not immigrants, SURPRISE!!!!
Many hispanics are not "immigrants".
Numbers not unique to San Diego.http://www.poconorecord.com/apps/pbc...20060808/NEWS/...
not related to "immigrants"
Even Hispanics recognize the fact.http://www.hispanictips.com/2007/11/...ures-hits-lati...
not specified as relating to "immigrants'.
More data on subprime borrowers.http://www.nytimes.com/2007/10/15/ny...5subprime.html
The highest foreclosure rate in San Diego is in east county,
where new home prices were lowest.
The most expensive homes on the coast have the lowest
number of defaults.
It's simple math, the mortgage industry opened the door of
home ownership to people who could not afford them.
People most likely not able to afford and not care were low
income.
Most of them not "immigrants"
I took your original post at face value,
when you said "immigrant concentrations".
I apologize for my "mistake".