I don't think so myself, I think that sub prime loans happened because lender and bond investors wanted the returns. Don't go blaming the real estate agents or the loan officers who originated the loans and sold the houses.
But this blogger sounds like he disagrees with me, and finds the sub prime and foreclosure mess to be a bit race hardened.
Reverse Redlining! The Abuse of Minorities and No Outcry!
from ActiveRain Blogs by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO (RE/MAX Greater Atlanta)
I was watching a financial home on CNN Money tonight where they brought up an interesting concept. Years ago in real estate there was a term called "redlining" which meant that some minority areas were marked off as a bad area to make loans, and that made it difficult if next to impossible to obtain financing. These are referred to as "Sub-Prime Loans!"
Go to Reverse Redlining! The Abuse of Minorities and No Outcry! for all his thoughts. Or better yet leave your thoughts right here on our comment section.