Home Mobile Authors Say Anything Register Login

Thursday, May 08, 2008

This Mortgage Crises brought to you

by the Left.

Here is the map of change in delinquency rates (by quintiles) on a county by county basis:



Here is the map of the 2004 Presidential Election on a county by county basis:



Quite the interesting correlation there. I think my already tepid support for mortgage relief just cooled to well below freezing.

Hat Tip: Marginalizing Morons via Michelle Malkin

Further reinforcement of the trend is offered by "blackwater"boob in a blue on blue engagement:



Comments

Heh.



A troll is someone who only wants to stir up trouble, not have an honest debate.  Some signs that a poster is a troll:
* Dodges questions from other posters * Refuses to give sources
* When one of its arguments is shown to be false, either ignores the proof or moves the goalposts.  Heh. (From the LGF faq)

Proof on May 8, 2008 at 07:43 am

I wonder how these maps would differ from a similar display of the highest increases in housing prices over the preceding decade on a country by country basis?


“Poverty of goods is easily cured; poverty of the mind is irreparable.”

Bat One on May 8, 2008 at 07:48 am

Again, the blue areas are much magnified, and areas of blue and red are now nearly equal. However, there is in fact still more red than blue on this map, even after allowing for population sizes. Of course, we know that nationwide the percentages of voters voting for either candidate were almost identical, so what is going on here?

The answer seems to be that the amount of red on the map is skewed because there are a lot of counties in which only a slim majority voted Republican. One possible way to allow for this, suggested by Robert Vanderbei at Princeton University, is to use not just two colors on the map, red and blue, but instead to use red, blue, and shades of purple to indicate percentages of voters. Here is what the normal map looks like if you do this:

Image and video hosting by TinyPic


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 8, 2008 at 08:09 am

"blackwater"boob reinforces my point:

The bluer the county, the more likely it is to be in the higher quintiles of mortgage (and fiscal) delinquency.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 08:20 am
Avatar for FlyOnTheWall

“blackwater"boob reinforces my point:

He was on topic and thoughtful Rodney, show some love.

FlyOnTheWall on May 8, 2008 at 08:50 am

He was on topic and thoughtful Rodney, show some love.

And amazement!



A troll is someone who only wants to stir up trouble, not have an honest debate.  Some signs that a poster is a troll:
* Dodges questions from other posters * Refuses to give sources
* When one of its arguments is shown to be false, either ignores the proof or moves the goalposts.  Heh. (From the LGF faq)

Proof on May 8, 2008 at 08:55 am

FlyOnTheWall,

On those two occaisions when a broken clock is coincidentally correct, it is still a broken clock, and “blackwater"boob is still “blackwater"boob.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 09:12 am

I accept your acquiescence.

Is there an Aunt Spelling Bea in the house?


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 8, 2008 at 09:19 am

"blackwater"boob,

Keep working on that reading comprehension deficiency of yours…


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 10:06 am

Notice the green areas of South Carolina.  More honest people here who pay their debts on time and don’t take federal welfare in the form of 120% mortgages without any down payment.


Communism is evil

Chief RZ on May 8, 2008 at 11:26 am

Boob’s map pretty much matches the delinquency one. 

Thanks Bob!


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on May 8, 2008 at 12:42 pm

Whistler,

Heh.  “blackwater"boob further reinforces the correlation between irresponsible borrowing and irrestponsible voting (i.e. voting for democRATs).


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 12:46 pm
Avatar for Lestat

Wow, you are brilliant.  You have just proven that in highly populated areas there have been more delinquencies than in sparsely populated areas. 

Lies, damn lies and statistics.

Lestat on May 8, 2008 at 09:16 pm

lestat,

We commend to you the same remedial reading courses we did for “blackwater"boob.  The graphic shows the “Basis Rate Change in Mortgage Borrowers 90 Days or More Delinquent.”

You could apply that reasoning to democRATic voters: i.e. it’s an abnormal psychology caused by overcrowding…


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 09:31 pm
Avatar for Lestat

In highly populated areas the values of houses increased more.  While in sparsely populated areas the value of houses remained somewhat constant. 

Your graphic shows that in places where the value of property got out of control that there were more delinquencies.  It is not about political affiliation.

Your graphic doesn’t mean what you say it does.  You are using it to lie.

Lestat on May 8, 2008 at 09:46 pm

lestat,

That is a trait of fascists far and wide, lestat.  If you dislike a correlation, accuse the person drawing the correlation of lying or worse.  We’ll chalk that one up to the pathology of overcrowding as well.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 8, 2008 at 10:15 pm
Avatar for Lestat

That is a trait of fascists far and wide, lestat.

I didn’t realize that Mark Twain was a fascist. 

Maybe you are not a liar, maybe you are just simple. 

To claim that the mortgage crisis is based on ideology, and not the value of land is idiotic.

Lestat on May 9, 2008 at 06:54 am

Lestat.  Mortgages were lent out at rates over 120% without any down payment.
The root cause is Jimmy Carter and his liberals.
The chickens have come home to roost.  The facts are that “banks” and lending institutions were politically pressured to lend money to “anyone and his brother” with no reasonable assurance that they could repay the loans.  My father who was VP at Banker’s Trust, NYC for over 20 years saw this coming in the mid 80s.
He left for Nashville, 3rd National.  It is personal responsibility, pure and simple.


Communism is evil

Chief RZ on May 9, 2008 at 07:11 am

lestat,

My beef was with your misuse of Mr. Clemmens words.  Your practices here have been, and continue to be, congruent with fascist methodologies.

Why is it unreasonable to ascribe bad borrowing practices (borrowing more than they could repay either by inflating their reported income or depending on a short term flip which in turn was dependent on a continuation of the upward spiral in prices) to people who believe they can vote themselves largess from the public purse?

Furthermore, your assertion of spiraling prices as the cause would only work for the highly populated areas of CA, while EVERY county in the state is in the two worst quintiles of delinquincy basis change.  Real Estate prices in most of the sparsely populated counties of the state have been flat for decades.

No, the correlation stands.  You are merely practicing the progressive approach to facts: reject as false that which works against your agenda, embrace as true that which supports your agenda.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 9, 2008 at 08:01 am

Buying a home should be for the purpose of living in it, not speculating or gambling on a rise in selling price.


Communism is evil

Chief RZ on May 9, 2008 at 08:15 am

Apparently RZ now hates American free trade and capitalism.


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 9, 2008 at 08:22 am

"blackwater"boob spews:

Apparently RZ now hates American free trade and capitalism.

Nope.  He demonstrably believes the Real Estate Speculators should reap the full detriments of their recent speculations.  Bailing them out would decouple the risk and reward mechanisms, leading to a repeat of the crises.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 9, 2008 at 08:39 am

Buying a home should be for the purpose of living in it, not speculating or gambling on a rise in selling price.


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 9, 2008 at 08:52 am

And buying a home on speculation is just another form of investment, and should be subject to no special protections or get out of bankruptcy free legislation.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 9, 2008 at 09:26 am

In that way, it’s quite similar to the Dot.Com bubble bursting.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on May 9, 2008 at 09:30 am

Oh, and “blackwater"boob should note that the real estate speculators had a lot to do with the run up in housing prices (which made it difficult for many families to buy homes).  The adjustment, if allowed to stand, will make housing more affordable for those actually looking to buy homes to live in.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 9, 2008 at 09:35 am

Socialists think that common folks should live in flats and only the elite should have their Dachas out away from the little people.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on May 9, 2008 at 09:38 am

RZ wrote:

Buying a home should be for the purpose of living in it, not speculating or gambling on a rise in selling price.


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 9, 2008 at 09:44 am

Nifty comeback Boob.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on May 9, 2008 at 09:46 am

Thank you.

Do you think RZ meant what he wrote or did he simply tipped over again?


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 9, 2008 at 09:54 am

tip


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on May 9, 2008 at 09:55 am

Are these two maps of different independent sources? or are they off of the same source--in a court-like mindset, that is liable to partisan action.  If the two sources were independent, it would largely influence my reaction to affirm as genuine.

The correlation is sort of grey, but I don’t ultimately doubt the causation.

It’s also from 4 years ago.

dirl126 on May 9, 2008 at 10:16 am

Rodney Graves.  Correct.  Personal responsibility.  Free to choose.  Free to take the consequences, good or bad.  Otherwise, we are not free.


Communism is evil

Chief RZ on May 9, 2008 at 11:38 am

dirl,

Seperate sources.  The 2004 election maps (generated rather after the fact) are from here.  The rate in mortgage delinquency map is from here via Marginalizing Morons and Michelle Malkin.


Out Here
Rodney G. Graves

Ceterum censeo Parthia esse delendam
Latin: “Furthermore, Parthia (Persia aka modern day Iran) should be destoyed”

Rodney Graves on May 9, 2008 at 02:12 pm

This may well be much-ado-about-nothing.  The maps could just as well demonstrate that where there are more people, there are more mortgage defaults.

[Not unlike maps demonstrating that where there are more people, there are more vehicles.]

I can’t speak for Chief RZ, but I bought my home in 1993 and when I sell it sometime down the road, I hope to make a hefty profit.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on May 9, 2008 at 02:26 pm

pparets.  I bought mine in 1977.  Paid in full 1997.  Started at about 7 1/2% during the Carter years.  Did well with his inflation as my salary increased.  I took out a 30 year loan, but obviously refinanced, doubled up around 1991 and paid it off early.  I just hope to break even.  Have enjoyed living in a good neighborhood all this time and had an excellent builder.  We designed and bought ourselves, no spec.


Communism is evil

Chief RZ on May 11, 2008 at 01:16 pm

Chief:  Wow!  Nice… and you deserve it!  If I remember correctly, you once posted that you live in SC?  Lovely state.


"Here lies, in honored glory, an American soldier, known but to God.”

The stakes are high. Whether the issue is the economy, or energy, or the federal courts or national security, the right answers are coming not from the Democrats, but from the Republicans. The surge of operations that began a year ago is succeeding. The only way to lose this fight is to quit. Richard M. Cheney, Vice President, 30 May, 2008

pparets on May 11, 2008 at 01:27 pm

Yes, one of the most “green” of all on attachment 3.  The best part is that the large neighborhood of about 10,000 now is virtually crime free because almost everyone has paid their dues themselves without government assistance.


Communism is evil

Chief RZ on May 11, 2008 at 01:34 pm

Oh. Nice RG!

dirl126 on May 11, 2008 at 01:52 pm
Page 1 of 1        

Post a Comment


Before commenting, please recite:

Grant me the serenity to ignore the trolls,
the courage to debate with honest opponents,
and the wisdom to know the difference.

Name   
Email   
URL   
Human?
  
 

Upload Image    

Remember my personal information

Notify me of follow-up comments?

Note: Notifications will only be sent to confirmed email addresses. Confirm your email address here.