The latest: blame the housing crisis on minorities. Or, in better terms: in the relaxed lending practices aimed at minorities.

The argument is mostly based on this:

Who owns subprime mortgages

Who owns subprime mortgages

and this:

Subprime Share of Originations

Subprime Share of Originations

Attempts to debunk this theory target the idea that just 2.6% of housing units are subprime (and you can track them down through the NY Fed website). On the other hand you shouldn’t mix up mortgages from the 80’s and 90’s into the statistics.

It is possible that relaxing rules and no-down-loans aimed at blacks and hispanics had some impact on the bubble, but white borrowers took advantage of them too. In the end we were all in the same flipping boat.

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