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Post a Comment On: Steve Sailer: iSteve

""Racial Segregation and the American Foreclosure Crisis""

13 Comments -

1 – 13 of 13
Anonymous Anonymous said...

I just learned a new word today while reading this post, idee fixe. I like the fact you drop unusual words in your posts from time to time without resorting to the antics of George Will. Thanks Steve.

10/4/10, 11:30 PM

Anonymous Anonymous said...

Just what the Hell is Massey trying to say?
Just what the Hell is his point?

So, 'segregation' ie the perfectly natural and normal phenomenom of 'minorities' to choose to live in close proximity (perfectly voluntarily), somehow 'caused' the disaster.
The horrible tendency of the professional liars (ie 'economists' and other 'social scientists') to dance a merry dance around incovienient facts and to twist and blather and spin until the reader is worn down never ceases to amaze.
The problem isn't 'segregation' or 'predatory lending' to minorities but the presence of the poor innocent lambs themselves.

10/5/10, 12:55 AM

Anonymous l said...

Just what the Hell is Massey trying to say?
Just what the Hell is his point?


Only that minorities would make better decisions and behave more responsibly if they were fully integrated into white society -- when their only examples are other minorities, they're stupid.

10/5/10, 3:02 AM

Anonymous Tom of VA said...

What Massey is trying to say, it seems to me, is that poor blacks and Hispanics are preyed upon by lenders who lend them money at higher rates than whites. Why at higher rates? Because they are poor credit risks. But Massey would argue that their higher default rates are because of those higher interest rates, balloon payments, etc. What he wants is for banks to lend to minorities at the SAME rate as whites, and for those whites to bear the cost of the risk.

10/5/10, 3:08 AM

Anonymous Anonymous said...

I love how to the proponents of multiculturalism 'minorities' are never responsible for anything they do. It is ALWAYS someone else fault. Must be a pathetic existence.

10/5/10, 4:33 AM

Anonymous Half Sigma said...

I think he's saying that lending to NAM (ie: "segregated") neighborhoods turned out to be a bad investment.

10/5/10, 5:54 AM

Anonymous Jeff Singer said...

True story:

For all his faults, William Julius Wilson will always have a special place in my heart. When I first met him at the Harris School of Public Policy (I was getting my Master's) he was a star professor there along with Doug Massey. They didn't see eye to eye (to put it mildly) on the causes of urban poverty and disfunction and I asked Wilson a question about Massey's criticism of some of his work. Later students were in awe of me as it was the only time they every say Wilson become animated (in anger at Massey for trying to pigeon-hole all the problems of urban blacks into the segregation box).

10/5/10, 8:26 AM

Blogger cruft said...

why doesn't his head explode?

10/5/10, 8:45 AM

Anonymous Anonymous said...

You accused someone, yet again, of being a 'race man,' I had to chuckle a bit there---a 'race man' is precisely what YOU are.

it's called: Projection

10/5/10, 9:43 AM

Blogger elvisd said...

I just learned a new word today while reading this post, idee fixe. I like the fact you drop unusual words in your posts from time to time without resorting to the antics of George Will.

George Will is up there with T.S. Eliot for my all-time most annoying prose style.

10/5/10, 10:42 AM

Blogger Anthony said...

As I pointed out over at Marginal Revolution, the paper doesn't appear to actually try to separate out the effects of segregation from the effects of differential foreclosure rates by race.

There's also very little acknowledgement that differential foreclosure rates by race are significantly affected by differential income levels by race, though he does say that he controls for credit rating.

It might be interesting to see if hispanics and blacks in more segregated neighborhoods had different foreclosure rates, and why. Certainly, there will be different levels of communication into segregated neighborhoods than into integrated neighborhoods. But given the competitive nature of the mortgage brokerage industry, what would that have led to?

10/5/10, 12:09 PM

Anonymous Half Sigma said...

"It might be interesting to see if hispanics and blacks in more segregated neighborhoods had different foreclosure rates, and why."

Blacks who live in white neighborhoods are more likely to be middle class and have middle class values, so they would have lower default rates on mortgages.

10/6/10, 10:36 AM

Anonymous Veracitor said...

The missing variable problem always makes these studies worthless.

They never regress "borrower's IQ."

I would bet money that it has more predictive power than anything they do take into account.

10/8/10, 7:42 PM

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