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Post a Comment On: Steve Sailer: iSteve

"Who exploited minority subprime borrowers?"

3 Comments -

1 – 3 of 3
Anonymous Veracitor said...

Don't forget the role of borrower's IQ. Duller people tend to pay more: they are less adept at comparison shopping, less likely to spot the gouges in the fine print, etc, etc.

I wish we had specific data on borrower IQ rather than just statistical inference. I'd be willing to bet that IQ explains more of loan price disparities than race does.

1/20/09, 11:24 PM

Anonymous headache said...

At least now I understand what redlining is: drawing red lines around high-risk areas on a map with a marker. Sounds like a sensible thing to do.

1/21/09, 4:59 AM

Anonymous Anonymous said...

There are already "Life Skills" classes in high school - how to make a budget, balance a checkbook, understand credit card debt.

We could add, how to shop around for a loan, assess the salespitch (ignore group loyalty until everything else balances out), be wary of mortgaging a paid for home, what is worth going into debt for and what isn't.

This might be easier to teach, as it doesn't require working numbers in class, but understanding of general principles.

1/21/09, 10:41 AM

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