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Are these the same racial grievance groups who were pressuring banks into making home-loans to unqualified minorities a few years ago because the banks' policies of only loaning money to people who had a fair chance of paying it back was racist and discriminatory?

If the banks refuse to lend, they are racist. If they lend, and foreclose when the loans don't get paid they are racist.

What a bunch of crap. The reason I waited to buy a house is because it's stupid to take a loan without a substantial down payment. The lenders and lendees were both reckless in this whole "sub-prime" thing.

What people dont get is that they down OWN a home until its 100% paid for. Even then, if they pay property taxes they never really OWN their home - they are just renting it from the government.

Im suprised liberals arent moving to replace property taxes with income taxes since if a guy making $4 million dollars a year owns a $250,000 house he would pay the same tax as a guy making $40,000/year with the same $250,000 house. I know a company CEO of a company with $200 million in annual revenues who owns a house valued at $100,000. I can only imagine what his annual salary is.

"Im suprised liberals arent moving to replace property taxes with income taxes"

They are. We just had to vote down a "tax shift" ballot initiative this past year that would have cost me over $1000.00 extra in income tax per year. Good thing it was put to a vote instead of just being crammed down out throats.

I "own" a house (am paying off the mortgage), but am "willing" to own a much larger and expensive one. Anyone want to give me one?

I know I shouldn't bring this up, but this story lends itself to five possibilities (maybe you can think of more).

1) Whites really are oppressing blacks (this would include an organized oppression by financial instituions and high ranking politicians)

2) Blacks have a genetic disadvantage in earning a living and paying bills (which I don't believe, always have to throw in that disclaimer)

3) Blacks are at a cultural disadvantage because of people like Sharpton and Jackson who tell them they are oppressed, doing more to kill their incentive than 30-40 years of affirmative action can turn around (or possibly aff. act. adds to that)

4) Blacks are at a cultural disadvantage because of the remnants of slavery and Jim Crow laws, etc.

5) The media is hyping a non-story to promote a left wing agenda

Take your pick, you may choose more than one.

Only racism here is the latent racism that the race-baiters amongst the black community and the Democrats have been pushing for years. Namely that if you're black and you fuck up your life, the government is obligated to bail you out.

How many Welfare Babies does it take to 'earn' the monthly check to cover the note? (substitute Anchor Babies - all the same in most states/cities)

Regardless of the chant of oppression - you still payin for it Whitey (who has a job and pays taxes). My apologies to my several close friends, of ethnic background (not White) who work hard and carry thier load as tax paying contributers (you are the few).

My wife is a mortgage broker. I know that as of the new year, less than 2% of all mortages in this country were even late. Not forclosed on, not in the process of forclosure, nothing. Considering the splurge of bad loans forced on the evil banking industry, that ain't bad. People have been taking these loans without any down payment, any commitment and after a couple of years have been walking on down the road because, hey they financed the furniture also, so screw it. The best part, within a couple of years, they'll be able to do it all over again.

Donald, that like the unemployment rate. Everyone thinks 5% is so bad, but 95% of the people are working. They leave that part out. And what doesnt make sense from the mortgage holders perspective is that if the people can afford the current rates but not increased resets, they could just agree to keep the payment the same and add interest to the back end in order to keep the money flowing. Its better than writing it off. Or are the mortgage companies just full of morons?

Unless they are evil bastards, one would think so. But it's not so simple. The federal government created legislation that allowed (Note I don't say forced) low interest loans to beginning home owners and minorities. The enforcement angle was of course, oversight of mortgage companies to make sure that every single possible loan was made. Combine that with sleazy lenders and brokers falsifying documents and you have a great opportunity for a lot of people to have failing loans. These people should never have been given loans. But they were and it's George Bush's fault and don't ever forget it.

"Everyone thinks 5% is so bad, but 95% of the people are working. They leave that part out."

No, dipshit...most people have an understanding of basic math and can figure that out.

5% is bad.

To put things into perspective ,at the onset of the Depression the U.S. unemployment rate was 24.9%.

France has about 8.7% unemployment rate and Europe's powerhouse, Germany, is at 8.1%

http://www.pub.arbeitsamt.de/hst/services/statistik/000000/html/start/monat/Arbeitsmarktbericht-engl/2007/1207.pdf

Not everyone thinks that the 5% unemployment rate is bad, educated people know that it is pretty good.

Anonymous is not educated.