More specious logic from our resident Republicans
The majoirty of homes in default are NOT in slums.
They're in solidly middle class neighborhoods filled with McMansions.
Most of them are in the suburbs. Most of them are ALSO in the sunbelt.
Per usual the Republican partisans are grasping at straws, They're seeking anyway they can think of to blame the Democrats for the problems that the banking community actually caused to happen because they were greedy and shortsighted.
It's totally pathetic.
But what I find most pathetic is that I have not a doubt the people posting these silly arguments actually believe them.
Tell you what, kids..
Check out where the defaulting mortgages are happening, and what sorts of homes are in default and get back to me.
You so don't know what you're talking about, and my explaining it to you won't do you as much good as you doing your own researxch to test your erroneous hypothesis.
i heard only 17% of the subprime loans were issued to black people, less than 10% to hispanics and the 75% left were to whites etc....