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Entry: The Diversity Recession, or How Affirmative Action Helped Cause the Housing Crisis Link: http://www.takimag.com/site/article/the_diversity_recession_or_how_affirmative_action_helped_cause_the_housing#30659 Post contents: Extra goodness: stupid white people losing a bundle: http://www.youtube.com/watch?v=WgqSd3-nBFU "She pulled out $325k of equity to get the house to $1.6 million. The house tanked to 65% of that, or $1.04M. She started with $725k as zero, so she is down to $715 - $725k or - $15k." http://www.youtube.com/watch?v=aPNjRoJ3PXw&feature=related See, they spend $100,000 to put in a home movie theatre to raise the price of their home by $100,000 so they can borrow $100,000 for a HELOC to pay for their daughter's schooling (better have pulled out the money fast, the bank will have cut it off by now). These home improvement bubble shows are aimed at minorities, in case you couldn't tell. Sent at: 2008 12 01