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Moderator: Priests of Syrinx
Yeah... that's a great success story, isn't it?It's one of the hidden success stories of the (President) Clinton era. In the great housing boom of the 1990s, black and Latino homeownership has surged to the highest level ever recorded. The number of African Americans owning their own home is now increasing nearly three times as fast as the number of whites; the number of Latino homeowners is growing nearly five times as fast as that of whites.
That's a lot of new picket fences. Since 1994, when the numbers really took off, the number of black and Latino homeowners has increased by 2 million. In all, the minority homeownership rate is on track to increase more in the 1990s than in any decade this century except the 1940s, when minorities joined in the wartime surge out of the Depression.
In 1992, Congress mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains. It has aimed extensive advertising campaigns at minorities that explain how to buy a home and opened three dozen local offices to encourage lenders to serve these markets. Most importantly, Fannie Mae has agreed to buy more loans with very low down payments--or with mortgage payments that represent an unusually high percentage of a buyer's income. That's made banks willing to lend to lower-income families they once might have rejected.
Uh...yeeeeaaaaaaah. That's a nugget.ElfDude wrote:I can't resist posting one of YESTERDAY'S headlines, since it relates so much to the news of today. This is from the LA Times in May of 1999:
Yeah... that's a great success story, isn't it?It's one of the hidden success stories of the (President) Clinton era. In the great housing boom of the 1990s, black and Latino homeownership has surged to the highest level ever recorded. The number of African Americans owning their own home is now increasing nearly three times as fast as the number of whites; the number of Latino homeowners is growing nearly five times as fast as that of whites.
That's a lot of new picket fences. Since 1994, when the numbers really took off, the number of black and Latino homeowners has increased by 2 million. In all, the minority homeownership rate is on track to increase more in the 1990s than in any decade this century except the 1940s, when minorities joined in the wartime surge out of the Depression.
In 1992, Congress mandated that Fannie and Freddie increase their purchases of mortgages for low-income and medium-income borrowers. Operating under that requirement, Fannie Mae, in particular, has been aggressive and creative in stimulating minority gains. It has aimed extensive advertising campaigns at minorities that explain how to buy a home and opened three dozen local offices to encourage lenders to serve these markets. Most importantly, Fannie Mae has agreed to buy more loans with very low down payments--or with mortgage payments that represent an unusually high percentage of a buyer's income. That's made banks willing to lend to lower-income families they once might have rejected.
That may very well also be more news you won't see. I can imagine what might be going through suspicious minds (because I have one.)YYZ30 wrote:Why are we testing their airspace?CygnusX1 wrote:From the "MORE NEWS YOU WON'T SEE" dept. :
NATO officials report that two helicopters were fired on from a Pakistan
military checkpoint.
NOT good.
Against an ally though?Big Blue Owl wrote:That may very well also be more news you won't see. I can imagine what might be going through suspicious minds (because I have one.)YYZ30 wrote:Why are we testing their airspace?CygnusX1 wrote:From the "MORE NEWS YOU WON'T SEE" dept. :
NATO officials report that two helicopters were fired on from a Pakistan
military checkpoint.
NOT good.
Provokies? Uh oh! We need a military hero!![]()
I don't know, of course. I'm just being a dick, er my usual self