When it comes to redlining, sowell directly addresses it in in Vision of the Anointed. He points out that the kinds of houses blacks tend to purchase tends to be ignored in studies that find widespread discrimination.
For example blacks are much more likely to want to buy multi family homes. The income and other requirements for these are much stricter which is why they are denied loans more often.
Moreover, he points out that if blacks were being subject to stricter requirements then one would expect that they were less likely to default since the requirements are notionally to calculate default risk.
He points out that before the redlining legislation black and white default rates were broadly the same indicating that whatever criteria the banks used it fulfilled its main purpose of estimating default likelihood.
He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
Before you make blanket statements on the man you should be familiar with his stance on things. Your comment lacks the nuance that one is apt to find in any sowell book.
For example blacks are much more likely to want to buy multi family homes. The income and other requirements for these are much stricter which is why they are denied loans more often.
Moreover, he points out that if blacks were being subject to stricter requirements then one would expect that they were less likely to default since the requirements are notionally to calculate default risk.
He points out that before the redlining legislation black and white default rates were broadly the same indicating that whatever criteria the banks used it fulfilled its main purpose of estimating default likelihood.
He then shows data that the anti discrimination legislation increased black default rates and questions whether you encouraging minorities to declare bankruptcy and enter financial ruin is really something to be desired.
Before you make blanket statements on the man you should be familiar with his stance on things. Your comment lacks the nuance that one is apt to find in any sowell book.