Posted on 01/27/2014 10:48:32 AM PST by rightwingintelligentsia
More African-Americans are being squeezed out of the housing market.
Not only are they less likely to apply for a mortgage than any other ethnic group, but African-Americans are also 2.4 times more likely to get denied a mortgage than Whites, a recent study conducted by Zillow and the National Urban League found.
(Excerpt) Read more at economy.money.cnn.com ...
Mortgage lending only cares about income and credit score and downpayment. We get paid to do loans; skin color doesn’t matter.
Yep. I see a new law coming. Too bad the name "Community Reinvestment Act" is already taken.
Impossible. There has been a Halfrican in the White Hut for over five years. The numbers are wrong or something. Some raciss accounts?
How about cross tabulating that statement of fact with the current percentage of African Americans now on Food Stamps and other government poverty programs. I suspect the rationale will come in to better focus.
It appears that Blacks want Obama phones and a never-ending access to welfare programs. Seems they really aern't interested in access to the middle-class. They voted for Obama and are receiving exactly what they voted for, and knew what they were voting for.
Don't blame anyone else for Blacks not entering the middle-class. Any blame belongs squarely upon their decision making. But my guess is the corrupt MSM will try to affix blame on Whites or Republicans in an effort to further leverage white-guilt to cast those who oppose Obama as racists.
Drug running money doesn’t count as income?
Since the prime contributor to a finance decision involves mathematics, it is no surprise to me that CNN doesn’t understand the logic behind the decisions.
Of course, I’ll take it all back if CNN can show me the “race” entry on the app form.
racisimists will see this as racist.
people based in reality will see the multitude or valid reasons for this.
The mortgage Co’s didn’t need to axe the race. The just turned on their Ghetto Name decoder.
guess we’re not confiscating enough from white workers to give to blacks to pimp their rides, do their nails, buy the bling bling, get expensive hoodies and sneakers, AS WELL AS cover a mortgage.
The 'do nothing' Conservatives in congress (just like George Wallace) stood in the way of all efforts by president Obama to right this wrong.
(See, I could be a Liberal writer)
You’re demanding data analysis leading to logical conclusions.
Obviously no future for you in media or govt, LOL.
CNN is just paving the way for Obama to beat-up the banks for not lending to them again.
In Great Leader’s 3rd term, he will give away houses to the oppressed.
Was the higher denial rate the result of more single income families applying like single mom families?
Was the higher denial rate corrected for credit scores?
Was the higher denial rate corrected for minimal to zero down payment?
Was the higher denial rate corrected for or due to the area where the home was being purchased? (i.e. who would want to make a loan in Detroit or certain other dying cities?)
Inquiring minds want to know. There is probably a lot more than race to the denials, but then, the Urban League only cares about race.
That is because so few blacks live in intact families.
We'll call it the "Community re-reinvestment Act", or "ObamaLoans" for short.
Hey!
If Obama voters can’t afford to pay the monthly mortgage on a house why doesn’t congress just force the banks to loan them the money anyway?
That will solve the problem!
/s
Believe it used to be called something like red lining - where credit was denied if you lived in a certain ZIP code and it also extended to auto loans. Also remember when I was in the personnel dept with a large corp years ago that someone in the government came up with the brilliant idea that people should not be required to include their last name, address or ZIP code on their application because that could be discriminatory.
It’s just all bizarre.
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