Around Massachusetts, racial divides persist

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Even when they are in the same income bracket as whites, minorities in the Boston region are turned down for mortgages at a higher rate and live in substantially less well-off neighborhoods, according to a study by the Metropolitan Area Planning Council in Boston. The average white family earning $78,000 a year in metro Boston lives in a neighborhood where the median household income is $72,400 a year, while the average black household earning $78,000 a year lives in an area where the median is $51,100 a year.

Source: Boston Globe

Defending the 30-Year Fixed-Rate Mortgage

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I am prone to write stinging rebukes to poorly written garbage on the web, but when I call someone out, I will devote the post to building a factual argument as to why they are wrong. I never ask anyone to just take my word for it because I am some kind of expert. Authority comes from the presentation of data in a compelling argument. Mindless rants don’t makeĀ authors an authority, it makes themĀ lunatics.

[Source: Irvine Housing Blog] IrvineHunter rips apart The Atlantic’s Megan McArdle’s arguments that the 30-year Fixed-Rate Mortgage is to blame for the housing crisis. That’s what I love about blogs. They refute the so-called ignorant pundits with cold hard facts.