Supersize Me

From Mother Jones, some fascinating facts about the American housing market:

• Americans spend more to power home audio and video equiptment that is "off" but still plugged in than they do to power such devices while actually in use.
• The average cost of a luxury kitchen remodel is $57,000.  That's $10,000 more than it costs to build a typical Habitat for Humanity home.
• Overall, blacks receive subprime loans 2.83 times more often than whites.  The disparity increases when affluent blacks are compared to affluent whites.

More below...

• Suburban and urban kids use illegal drugs, have sex, fight, and steal at the same rates, but suburban kids are more likely to drink and smoke.
• Suburban white men weigh 10 pounds more than men in cities.
• Rush Limbaugh's Palm Beach estate is worth 15 times the value of Bill and Hillary Clinton's Chappaqua, NY home.

Comments

[Jackie]

Very interesting stuff, Frank. The point about subprime loans to the affluent is pretty telling. I would voice some race-based displeasure, however I'm concerned it may lead to me(and all other black people) being labeled whiny little bitches.

Any information 'bout what's going down in the Scalia Master Bedroom?

[briandtw]

Jackie...pretty ungrateful, aren't you? You should be happy us white folks let you get any loans at all.

[UC]

Sarcasm noted, Jackie.

However, I think I was pretty clear on my feelings of racial injustice in the "real" world as compared to the "sports" world. That loan stuff does not surprise me, nor is there any defense of it.

But go ahead and misconstrue my comments in any way that best casts me in the light of "just another white guy bad-mouthin' black people." (Er, I should say "all" black people, as I was clearly trying to lump as many people together as possible as opposed to focusing on enormously wealthy athletes who bitch.)

Man, you black people are so sensitive. :)

[Jackie]

You were crystal clear, UC. And I certainly don't consider you "just another white guy bad-mouthin' black people." Not at all. If I thought that to be the case, I wouldn't have spent like a a gazillion keystrokes discussing things with you. Just a little ball busting, my friend.

And as for howard in nyc's suggestion over at your blog, I don't know man, I hear some scary things 'bout you Irish folk.

[UC]

It depends. If you consider too much whiskey making me rip off my clothes, howl at the moon, brawl with the nearest availble guy looking at me funny, hit on any female with a pulse, and then disappear for three days before calling to be bailed out of jail, then, yeah, I can be scary.

[Jackie]

So long as you keep your clothes on we're cool.

[M. Butler]

Not because I want to take on any shit, but on what basis are loans distributed? If its based on income alone, its bullshit that this happens. However, if there are other things that the loans are based on, then its just a useless statistic that will likely change quickly.

For example, if loans are based on (in addition to how much your worth) how long you've owned your previous home, how long you've been in a single location, which zip code you live in, etc (insert any other factor here), then its not necessary based on race but more on changing lifestyles of the different races.

Let's say for example, that a portion of loan criteria is based on how long you've lived in a single location. And just for example Affluent Blacks move a lot more than Affluent Whites (the people who are getting the loans). Then the loan statistics is based on the movement, not on race (which just happens to be the current make-up of Affluent Blacks).

Or it could be just plain racism. But I think the underlying facts need to be identified first before we jump to any conclusions.

I'm not sure this rambling made sense.

[Frank]

Butler - you're questions are totally within the bounds of discussion, but from what I am to understand, it's an average. If, on average, a black borrower is nearly 3 times as likely to be getting fucked on their mortgage as a white borrower than that, to coin a phrase, is fucked up. If a black borrower is 1.01 times as likely to get subprime funding vis a vis a white borrower that is fucked up. And mobility doesn't matter. I know the mortgage market. Mortgage bankers, especially in the rate environment we're in, are whoredom defined. If these statistics prevail and are factual, that is discrimnation now matter how you slice it...