No. of Recommendations: 1
When you look at this study from New York State as an example, over 60% of all foreclosure filings concern debtors with over 60k annual income. This idea that the meltdown was largely caused because poor people were given loans is just wrong.

The more spectacularly wrong dogma is, the more impassioned its defense by believers.
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.