Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: FreeReign

On the breakdown of mortgage failures vs. income, the trend is the same across the boards. I used Stockton as an example because it is #1. It’s income is way above average.

Most failures are in generally affluent areas that experience mega growth and mega appreciation over the last decade.

I wish I could find info somewhere that just breaks bad mortgages down by income. The reason its important to me is that I believe strongly in home ownership, and if CRA is not to blame, I don’t want starter loans for homes to stop.

I know that the best way to turn someone into a Republican is to make him a homeowner.


515 posted on 09/21/2008 3:40:31 PM PDT by A.Hun (Common sense is no longer common.)
[ Post Reply | Private Reply | To 511 | View Replies ]


To: A.Hun
I used Stockton as an example because it is #1. It’s income is way above average.

Stockton's Median Household Income is $35,453, which isn't all that high, especially when you factor in California housing prices. It has a heavy Hispanic population plus a relatively high (for California) black population.

Seems to me that in Stockton the CRA probably played a major roll in mortgage writing and mortgage foreclosures.

I wish I could find info somewhere that just breaks bad mortgages down by income.

Yes income and also race. Please ping me if you find any.

532 posted on 09/22/2008 8:23:05 PM PDT by FreeReign
[ Post Reply | Private Reply | To 515 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson