{"id":98,"date":"2008-07-07T16:03:43","date_gmt":"2008-07-07T23:03:43","guid":{"rendered":"http:\/\/www.harmonicminer.com\/wordpress\/2008\/07\/07\/blank\/"},"modified":"2008-07-07T16:51:27","modified_gmt":"2008-07-07T23:51:27","slug":"blank","status":"publish","type":"post","link":"https:\/\/www.harmonicminer.com\/wordpress\/2008\/07\/07\/blank\/","title":{"rendered":"Why did the housing meltdown happen NOW?"},"content":{"rendered":"

The usual suspicion, held by those of us who expect bad results from government meddling in the market, is that the housing\/sub-prime meltdown is somehow a result of new factors entering the marketplace by government action. That is, the meltdown happened at this time, not 5 years ago<\/em>, and the question in these matters is usually, why now<\/em>? The main player with enough power to distort the market so as to create a fast moving set of bad circumstances is, you guessed it, the government. That is, why were all the sub-prime loans made recently, not ten years ago? In other words, what changed?<\/big><\/p>\n

Steve Sailer details an important factor not considered by many, and not widely explained, or even mentioned, in the media:<\/a>
\n<\/big><\/p>\n

Uncovering
\nthe roots of the disastrous home mortgage bubble that popped last year
\nwill keep economic historians busy for decades. Yet, one factor has so
\nfar been largely overlooked: the bipartisan social engineering crusade
\nto drive up the rate of homeownership by handing out more mortgages to
\nminorities.<\/big><\/p>\n

More than a negligible amount of the blame for the
\nmortgage meltdown can be traced back to multiculturalism:
\ngovernment-mandated affirmative-action lending, demographic change,
\nillegal immigration, and the mind-numbing effects of political
\ncorrectness.<\/big><\/p>\n

The chickens have finally come home to roost. <\/big><\/p><\/blockquote>\n


\nIf you find this a provocative thesis, he has made a very convincing argument, that, like it or not, is worth a read<\/a>. <\/em>
\n<\/big><\/p>\n

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