Joe, I've heard the song -- Peter Krug sings it -- and perhaps it's a song about prejudice, but to me it always seemed more of a song about a culture clash.
I gotta say, I like it.
Part of the humor of it, is that it has a very lively gypsy melody. Each verse ends with a line about the hardwood floor, like:
"And they're throwing on the bonfires...are those slabs of hardwood floor?
Mrs. Stein don't rent to gypsies anymore, hey!"

The plot of it is nominally that Mrs. Stein goes off on a six month cruise after hiring a couple of gypsy brothers to caretake her mansion while she's away.
Blessings,
Barbara