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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (44683)	8/11/2010 5:09:07 PM
From: TimF	1 Recommendation Read Replies (2) \| Respond to of 71588

It says that and other things. You ignored the other things, including the main point that the data is not about "rich vs. non-rich", but about very large mortgages vs. smaller mortgages. And she ACCEPTS the CoreLogic data (which shows higher incidence of default among the wealthy then among the general population): Having a large mortgage is correlated with higher wealth, but it isn't the same thing (esp. not after a sharp contraction in housing values, particularly when that contraction tended to be worse where housing values where more inflated, and thus houses tended to have higher mortgages. That point is esp. true if you consider and adjust for cost of living when you determine who you are going to consider wealthy and very wealthy. In fact, she even states that (although no way to prove it yet) she herself SUSPECTS that the wealthy DO STRATEGICALLY DEFAULT I didn't say otherwise (either about her statements, or making the statement myself). But she pointed out how the study does not actually show what its claimed (by you among others) as showing, and I relayed that point.