[lbo-talk] Goolsbee: subprime was pretty groovy (in 2007)

[Mark DeLucas]

Steve Sailer tells me that we're entering the "Diversity" recession--caused by the PC desire to expand home-ownership to minorities, regardless of their ability to pay.  It would seem that in order for this to be true, minorities would have to hold a decisive percentage of the bad mortgages.  Does anyone know the percentage distribution of sp mortgages by race?  

Although Sailer has a backup explanation, that the bad lending practices originated in minority areas and then spread across the whole of the housing industry.