[Theoria]

There was no boom and bust in Harlem, Philly, Chicago, or Memphis. Ya know why? CRA didn't apply to Subprime loans.

Even if CRA was a factor, it merely helped out people who were already in low-income 'residences'. There was no bubble in the hood.

Look at the areas, Las Vegas, Florida, Arizona, California, that is nothing but speculation. They gambled, and tried flipping houses, and lost.

I'll say again, it was the Gov't fault, and that was through cheap credit.

There was no Freddie Fannie or CRA in the commercial real estate market. Boom Bust.

People used their Mortgages as ATM's and bought shiny stuff. That helped drive the business cycle. They couldn't pay it back.

[okie01]

There was no boom and bust in Harlem, Philly, Chicago, or Memphis. Ya know why?

Ask yourself: If you lived in Harlem, would you get a sub-prime loan to buy another dump in Harlem? Or would you be looking in Long Island?