Blame the rich for mortgage crisis | Arkansas Blog

Friday, July 9, 2010

Blame the rich for mortgage crisis

Posted By on Fri, Jul 9, 2010 at 9:04 AM

Speaking of Fox fanatics. Listen to them and you hear that the mortgage crisis is solely the work of Acorn and deadbeats who abused subprime mortgages.

The facts sure can get in the way of a good story. From the NY Times:

Whether it is their residence, a second home or a house bought as an investment, the rich have stopped paying the mortgage at a rate that greatly exceeds the rest of the population.

More than one in seven homeowners with loans in excess of a million dollars are seriously delinquent, according to data compiled for The New York Times by the real estate analytics firm CoreLogic.

By contrast, homeowners with less lavish housing are much more likely to keep writing checks to their lender. About one in 12 mortgages below the million-dollar mark is delinquent.

Tags: , ,

From the ArkTimes store

Favorite

Comments (24)

Showing 1-24 of 24

Add a comment

 
Subscribe to this thread:
Showing 1-24 of 24

Add a comment

More by Max Brantley

  • Woo. An open line

    The open line. Hogs, Trump, LeBron James, Stephen Curry, Golden State Warriors
    • Sep 23, 2017
  • Trump launches attack on 'SOBs' of the NFL

    Donald Trump led a rally for Alabama Senate candidate Luther Strange Friday night and the resulting news coverage (if not in our local newspaper) is giving great attention for his rant against the NFL, including but not limited to players who have made political statements by taking a knee during the National Anthem.
    • Sep 23, 2017
  • Driver killed in crash with Maumelle officer

    Maumelle police report the death early this morning of a motorist who crashed head-on with a Maumelle police officer. The officer and two passengers in the other vehicle were injured.
    • Sep 23, 2017
  • More »

Readers also liked…

  • In Little Rock, Marco Rubio sells American exceptionalism

    This is Rubio's axiomatic answer to Donald Trump's insistence that he and he alone will Make America Great Again: America is the greatest, always has been.
    • Feb 22, 2016
  • Baseball fans have a new place to stay

    If you missed out on Razorback baseball home games this year because you couldn’t find a great place to stay, your problem is now solved: Staybridge Suites of Fayetteville is now fully renovated and located directly across from Baum Stadium, with free parking for hotel guests.
    • May 22, 2017
  • Charter school accountability: Non-existent in Arkansas

    A state audit finds charter school spending violated state law, but the state Education Department says it has no responsibility for ensuring proper management of charter schools. Say what?
    • Mar 5, 2016

Most Shared

  • ASU to reap $3.69 million from estate of Jim and Wanda Lee Vaughn

    Arkansas State University announced today plans for spending an expected $3.69 million gift in the final distribution of the estate of Jim and Wanda Lee Vaughn, who died in 2013 and 2015 respectively.
  • Bad health care bill, again

    Wait! Postpone tax reform and everything else for a while longer because the Senate is going to try to repeal and replace the Affordable Care Act one more time before September ends and while it can do it with the votes of only 50 senators.
  • Sex on campus

    Look, the Great Campus Rape Crisis was mainly hype all along. What Vice President Joe Biden described as an epidemic of sexual violence sweeping American college campuses in 2011 was vastly overstated.
  • The inadequate legacy of Brown

    LRSD continues to abdicate its responsibility to educate poor black students.

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation