Wednesday, Aug 29, 2007
In New Zealand subrrime is run by finance companies - and they are dropping like flies
stuff.co.nz: Five star finance collapse
The NZ housing bubble has been helped along by lending from so-called finance companies (effectively subprime lenders). They are starting to fall like flies (3 in 10 days) - when they pop they also take debenture holders money with them too (Mum and Dad investors). Financing for spec. builders, flippers, BTLs is alll evaporating here in NZ.........
Posted by andy h @ 11:15 PM (54 views) Add Comment
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