Jul 08
I’m so old I can remember when the housing crisis was all the fault of poor inner city brown people forcing huge banks to give them huge loans against the banksters will. Republicans and rich white people told me so. Now, not so much.
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.
