Credit’s NOT only based on income. It’s also based on paying bills on time. I suspect this is liberal bullsh*t. Bank’s make their profit by ‘renting’ money. They’re not going to turn down profit unless they feel the risk it too high.
Of course, the theme of this is that some racial discrimination is in play. But it sounds like the fact is that banks are being more careful related to the applicants’ credit history and credit rating, which, of course, SHOULD be taken into account. Equal income levels do not make equal credit risks.
U of M?
Gimme a break.
I’d look at that “study” very, very closely.
Given the source, I’d say that 1) the research was shoddy, 2) the math was even shoddier, and 3) the results were predetermined. Law school, remember? Not exactly your prime source of good researchers.
Or could it be that minorities are much more in debt and have worse credit scores?
No, that’s racist.
This is the same bullsh*t that got the original bad credit bubble going 20 years ago. Some Communist academic puts out a phony study and then the Leftists jump on the bandwagon and start pressuring banks to drop lending standards so people with bad credit can get loans.
Read the comments section at the source. Not a single reader finds this article credible.
I thought we learned this lesson a few years ago — that bad things happen when politicians and race hustlers make mortgage lending decisions. Idiots.
Might there be some objective, colorblind standard that is behind a higher rejection rate? Yes.
But, to the racial bean counters it doesn’t matter. They want their numbers to be pretty, reality be damned. This is in large part what led to the speculation and fraud culminating in a real estate bubble from which we’re still recovering.
It would quite honestly have been cheaper and less disruptive to just give them all a house, but those houses would need to be maintained and would need to remain unencumbered by a note, in order to afford the opportunity for stability and wealth-building that owning a home has created historically.
Past behavior shows that this will not happen. But, the numbers wouldn’t be pretty, so it has to be racism.
Hats off to all of you on this thread. Two years ago the comments 'at the source' would have been timid... and frightened. We've changed that by speaking truth to lies.