Gary Younge

Mmmm, yes.

That does not make such a conversation about class any less vital.

Just what America needs, a discussion of class along Marxist lines.

This also looks a little odd:

One in 10 of those with mortgages is in negative equity; one in 16 is behind on their payments.

Anyone know if those figures are true? Sounds like remarkably high figures to me. I might believe it of certain bubble States (Florida, California), but of the country as a whole?

2 thoughts on “Gary Younge”

  1. The Federal reserve Bank of new york has a lovely little interactive map down to the county level of this sort of data. You can see for example that 50% of subprime mortgages in florida made a late payment in the last 12 months and that 67% are ARMs. But before we get too excited, there are only 39 sub prime loans per 1000 units ….that’s 4%. The numbers for California are similar. The US has wildly exaggerated the impact of their housing “crisis”….you want problems, come to Ireland Spain and of course the UK.

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