Are the Rich the Biggest Defaulters?
Last week, the New York Times published an amazingly shallow article saying the “biggest defaulters on mortgages are the rich.” This contention is supported by a single pair of data: the owners of about 14 percent of homes worth more than $1 million are delinquent on their mortgages, while only “about” 8 to 9 percent [...]
Last week, the New York Times published an amazingly shallow article saying the “biggest defaulters on mortgages are the rich.” This contention is supported by a single pair of data: the owners of about 14 percent of homes worth more than $1 million are delinquent on their mortgages, while only “about” 8 to 9 percent […]
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Are the Rich the Biggest Defaulters?
Last week, the New York Times published an amazingly shallow article saying the “biggest defaulters on mortgages are the rich.” This contention is supported by a single pair of data: the owners of about 14 percent of homes worth more than $1 million are delinquent on their mortgages, while only “about” 8 to 9 percent […]