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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#30844 Post contents: "Incidentally, in Orlando, the worst-hit area from the subprime crisis is Osceola county, which is a mxied county of working class whites and working class Hispanics. Many Hispanics employed in the construction and other labor-intensive industries bough homes there in the $90-150 range in recent years on incomes of approximately $25-40K. This is a pretty wide gap, and the foreclosure rates there are through the roof." I just moved from Osceola in late 2006. The houses they bought there were more expensive than you state. We used to see 'em in the fancy, gated subdivisions with brand new 3000+ square foot homes. The "Hispanics" you mention were Puerto Ricans mostly with theme-park related jobs (hotel maids, etc.)not construction jobs. They clearly couldn't afford these homes (we're talking $250,000+) . A family could easily afford the morgage on a home in the price range you mention on a $30,000- $40,000 salary (I know from experience) but most people (whites included) are spoiled spendthrifts. Frugality used to be a virtue but noone cares anymore. The thing that stinks is that lots of us responsible homeowners now have to face the possibility of selling our homes (if we need to move) for less than we bought them for). Sent at: 2008 12 02