The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Skeeter Bug who wrote (164803)	11/16/2008 4:44:00 PM
From: Schnullie	Read Replies (2) of 306849

This may be a geographic thang but minorities are NOT small potatoes in terms of impact on defaults/foreclosure. Ground zero for this action here in California is Antioch, Stockton, Richmond, Modesto...communities with huge minority population percentage. Richmond and Antioch are largely black but are located on the geographic fringes of the more wealthy Bay Area. There are very few foreclosures in nearby Lafayette, Walnut Creek, Concord, CA....Antioch and Richmond are off the charts. Modesto, Stockton, others exist in the middle of the Central Valley and are overwhelmingly hispanic. Many are here illegal. Statistically, these cities have the highest default rates in the country. The pattern repeats itself over and over throughout CA and AZ. I suspect its very much the case in Florida and other foreclosure hotspots. Full Disclosure: Yes, I'm a racist...let's skip the wild-eyed finger-pointing and gasping for air.

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