The Diversity Recession Gets Worse
Over at VDARE, Steve Sailer has a follow-up article to his fantastic piece here at Takimag on ”The Diversity Recession”:
One clue comes from looking at the places with the sharpest decline in home prices, such as California, South Florida, Arizona, and Nevada. For example, the median price of homes sold in California last month was $328,000, down 31.5 percent from a ridiculous $484,000 in June 2007. Almost 42 percent of all homes sold in California were in foreclosure.
Why did the housing bubble get out of control in many heavily Hispanic regions?
Because many important people wanted it to.
A widely overlooked reason behind this economic disaster is that the politicians, real estate interests, and financiers told the public that they weren’t speculating wildly on the insane hope of home prices rising forever. No, they were actually helping minorities share in the American Dream!
Comments
Since the early eighties, I have felt that we were “over-housed.” Not only do many get mortgages who shouldn’t qualify, but with the artificially lowered mortgage rates, many buy far larger homes than they they are economically justified in affording.
The larger issue of minority preferences and diversity in employment has created a general lowering of competence throughout government and the economy. You can not reconcile diversity and excellence. The great Asian economies today such as Japan, Korea, China, etc., are not known for their “diversity” in the workplace policies.
Click to flag this comment as abusive
Post a Comment
By submitting this form, you give Taki's Magazine permission to publish this comment. Comments will be published at our discretion, and may be edited for clarity and length. Personal attacks, ethnic slurs, the riding of hobby horses and the beating of dead ones will be deleted as soon as they are detected by our small but alert staff. Repeat abusers of this policy will be barred from leaving comments. All comments reflect only the views of those posting them and not necessarily those of this website, its editors, or authors. For best formatting, please limit your response to one paragraph and don't hit "enter" to force line breaks.
Commenting is not available in this section entry.