Other 46 states start to notice Sand States caused mortgage meltdown
19th January 2009
Steve Sailer is always worth reading.
As I reported last September, even though the four Sand States (which have 21% of the country’s population) accounted for about half the foreclosures, they must have accounted for an even higher proportion of the defaulted dollars, which is the key variable in setting off the world financial crisis. That’s because median home prices in California were almost triple that in the rest of the country at the peak of the bubble.