"What a silly negro!"
Posted on 05/05/2018 1:24:31 PM PDT by E. Pluribus Unum
Your post made me ask .. haven’t we been here before - with a disastrous outcome?
So I went searching and came across an old FR post with some links that might be relevant:
http://freerepublic.com/focus/f-news/2101121/posts
This very same issue is raised every year or so, like clockwork. Mortgage lenders care about only one thing — being repaid, reliably, with a bit of interest tacked on. Black borrowers simply don’t do this — repay — as reliably as white borrowers. Nothing more, nothing less.
I read a fascinating study several years back comparing married black couples to married white couples. Same upper middle class income, same educational background. The black couples had significantly fewer assets — less savings, less investment, less home equity, etc. The black couples simply spend a much higher percentage of their income immediately on restaurants, cars, clothes, jewelry, vacations, etc. So despite having the same high income, they had very little to show for it other than bling and credit card debt.
Well, the obvious solution is to change the criteria. Just as they did for college admissions. Also, charge Whitey more and give that money to non-Whitey, just as they do for college tuition.
This is a recurring front in the playing of the race card. It was used by the left and Obama to fund lefty NGOs and extreme activist groups with consent decrees and settlements.
All true.
This is a meaningless article, just on the basis of overall data.
You have to compare black applicants who have an 800 credit score , with white applicants with the same score.
Also, the property comes into play too. Sometimes properties fall out of escrow because the appraisal comes in too low, and the mortgage is rejected, not because of the credit worthiness of the borrower, but because of the property itself.
Actually, it isn’t 12% it is only around 6% since it is mainly black men who are the class of criminal your stat concerns.
Actuaries don’t lie or discriminate.
I’d venture to estimate that poor Whites are probably turned down at a rate close to that of Blacks.
As you point out, it’s about ability to pay, not skin color.
It also has to do with certain areas, the elevated crime rates, and the number of failures in that area. (at least, I suspect that also has something to do with it)
Some will call this redlining, or use some other term.
Sorry, that is entirely reasoned. People who loan out money want to get paid back. Imagine that!
These stats are meaningless without any mention of default rates, ability to make the down payment, credit history, annual income, and so forth.
I get caught when I've been listening to music on public radio, and it ends, but the radio's still on, and I'm assaulted with Nina Totenberg.
As to the substance of the article, it's basic statistics that you have to adjust for other factors (e.g., credit history, employment record, etc.) when you seek to correlate one variable against another, e.g., loan rejection rate against race. Apparently the data in the article is unadjusted.
Cause da man be keepin us down and s—t!
“Black Mortgage Applicants Denied at More Than Twice the Rate of Whites”
NOT this crap again! I think the left carries recycling way too far.
Is everyone rCissss? Give these people 40 acres and a mule!
yep.
Black money spends just the same as white money. If I were a bank I’d have no problem giving loans to people of ANY color who were good for the loan. But I would definitely not give loans to anyone who was a bad credit risk. That’s not discrimination; it’s just sensible business practice.
The best response to this line of fake racism is to institute the Liberal Bank of America where it’s founding principle is that mortgages will be approved on the basis of race’s overall proportionate representation in the US
The bank will be funded solely with the pension and IRA funds of liberals who can now be fat cat bankers soon to be destitute bankers with no retirement funds
Fake news...need to compare denials and approvals across races with same credit scores
Yep. And the same will happen with colleges soon with the whole “everyone should go to college thing”.
It’s really more like 3%, if you only consider males 17-40.
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