ACORN and the Housing Crisis

New Mexicans, especially Albuquerque residents, have dealt with the radical leftist group ACORN on multiple occasions in the past. ACORN led the charge in imposing a higher minimum wage in Albuquerque (before the Legislature and Congress imposed their own wage laws). This wage law is now an important factor in making it difficult for teenagers and minorities to get jobs. Also, ACORN was found to have engaged in massive fraud in its campaign on behalf of the so-called “living wage” in Albuquerque (a practice ACORN has engaged in nationwide).
So, how does all of this fit in with the housing crisis? According to a new study by the Consumer Rights League, ACORN, among other things, played a lead role in forcing lenders to lower their standards, thus encouraging millions of Americans who could not really afford a home to purchase one while demanding that lenders give loans to people who were likely not to be able to pay them back.
If they did not financially support ACORN and cow-tow to their radical agenda, lenders faced the wrath of one of the most political grassroots organizations operating today. Full text of the study can be found here.

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