The NAACP thinks so!
"In July, the National Association for the Advancement of Colored People, or NAACP, filed a discrimination suit against 11 of the country's largest lenders, saying minorities are steered toward high-cost loans more often than whites, even after all risk factors are considered.
The ACORN study found that high foreclosure rates cause higher rates of crime, lower tax revenue and property values. In other words, whole minority communities, not just individuals, are hurt when houses go under, said Hilary Shelton, director of the Washington D.C. Bureau of the NAACP. "
http://news.yahoo.com/s/nm/20071126/..._minorities_dc
Is it me, or do you think the same results would be evident if you compared younger homebuyers to older homebuyers? Some lawsuits are just frivolous, and this is one of them. Think of what positives could be done with the money that will be wasted on their defense. What a shame.
