Race In Mortgage Lending

Luke Ford writes: The Housing Boom and Bust: Revised Edition by Thomas Sowell.

People charged higher interest rates than average also have higher rates of payments, defaults and foreclosures. The market has accurately assessed the risks. (Pg. 6)

From Pg. 16-17: While housing payments often made up more than half of income in Los Angeles and New York, the percentage of median income required to buy a house in Tampa was 21% and in Dallas 13%. These latter two places had few buildings restrictions.

The more the government intervenes in the housing market, the more expensive the housing.