Innumeracy Update: The Diversity Depression

clipped from isteve.blogspot.com "The Joint Center for Political and Economic Studies reports that the rate of subprime mortgages for Latinos and African Americans is about double the rate for whites. In 2006, subprimes made up one in four mortgages (26 percent) made to whites, 47 percent of those to Latinos and 53 percent of mortgages that went to African Americans."

Without knowing the exact proportion of the races in taking out mortgages, this would seem to suggest that 30+% of mortgages in 2007 were subprime.

And we wonder why there's a problem? Come again?