Mortgage debacle caused by consumers with poor math skills?

In part, so says an article I read this morning  at Real Clear Science.  The author, Ross Pomeroy, claims that at least one reason for the mortgage meltdown and the high foreclosure rate are the poor math skills of the consumers.

The problem of poor math skills I encountered as a college instructor came in the context of discussing government economic policy. Most of my students did not comprehend the vast quantitative differences between millions, billions, and trillions. Why not? Because math isn’t usually taught individually as, say, piano lessons. Here is a suggestion that might help:
Short Cut Math

There is no single answer to how we can improve the math skills of students. But, I can suggest Gerard W. Kelly’s book for adults. If you faithfully do the problems, you will become much more confident of your basic arithmetic skills.

This is not something you should feel ashamed about; it’s something you owe to your self to solve. Anyone intelligent enough to read this blog can do simple arithmetic. Kelly gives you strategies for working the problem different ways that are very helpful. Highly recommended.

About Richard Rollo

I am a retired Community College Instructor. I taught Political Science 1 American Government for 22 years in Southern California. I am originally from Northern Minnesota. My earliest years were spent in the living quarters of a rural Duluth Winnipeg & Pacific Railway Depot. Then my family joined the great 1950's migration to Southern California where I joined up with fellow baby boomers in overcrowded schools.
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