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CNN "Open House" segment
I watched the CNN "Open House" segment today.  www.cnn.com/openhouse This should give you the link to the program.  It was the first time I took the time to watch the entire half hour show.  They talked about the sub-prime market....and an analyst put the blame on the lenders.  The poor borrower that over stated his income must have been coerced into over stating.   Jesse Jackson said the lenders were using steering and red lining tactics....clearly he didn't have a clue but wants someone to be responsible....anybody other than the borrowers.  He gave some lop sided statistics that I have yet to verify.  I have Googled them in several places and no luck.  He gave the ratio of White, Hispanic and Black foreclosure numbers and from there jumped into the steering and redlining.  His definition of steering was steering Blacks to a certain type of loan with higher costs than the other borrower segments.  That could be true or not be true.  We do know their is 2.2 million foreclosures in the US.  The numbers he quoted and what I found do not match...but he could have a special source.
Then came the best yet.  Another minimally versed Canadian (Montreal?) real estate broker.  ... more

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