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You are here: MacNN Forums > Community > MacNN Lounge > Political/War Lounge > 51% of all foreclosed homes had prime loans, not subprime

51% of all foreclosed homes had prime loans, not subprime
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hyteckit
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Join Date: May 2001
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Jul 6, 2009, 04:24 AM
 
According to the Wall Street Journal, zero money down, not subprime loans, led to the mortgage meltdown.

http://online.wsj.com/article/SB124657539489189043.html

51% of all foreclosed homes had prime loans, not subprime, and that the foreclosure rate for prime loans grew by 488% compared to a growth rate of 200% for subprime foreclosures.
Bush Tax Cuts == Job Killer
June 2001: 132,047,000 employed
June 2003: 129,839,000 employed
2.21 million jobs were LOST after 2 years of Bush Tax Cuts.
     
   
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