Friday, Mar 14, 2008
.........but, but Mr. Darling said the UK didn't have any subprime????
findaproperty.com: Sub-Prime Lending: The Beginning Of The End?
"Rising energy, petrol and food costs are forcing consumers to tighten their belts, while reliance on increasingly expensive unsecured credit as a safety net is becoming more common.
"Although growing numbers of borrowers are set to slip into sub-prime borrower status, the market shows no signs of being able to satisfy this heightened demand."
Posted by bystander @ 07:01 AM (520 views) Add Comment
4 Comments
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1. Last_days_of_disco said...
People who make these sort of remarks, do they breathe oxygen, do they breathe at all?
"Rising energy, petrol and food costs are forcing consumers to tighten their belts, while reliance on increasingly expensive unsecured credit as a safety net is becoming more common."
Since when is credit a "safety net"? Its a trap, there is nothing safe about it. Its a sure way of messing up your life. Stay out of debt if you can't afford it. Debt is for rich people.
"Although growing numbers of borrowers are set to slip into sub-prime borrower status, the market shows no signs of being able to satisfy this heightened demand."
Again, the logic is so wrong, I find myself barely able to speak with incredulity. What?! If you can't afford the payments on a loan, you can't have one. Thats it, anything else involves meeting bailiffs and so on. How can such seemingly intelligent people spout such utter trash. "Heightened demand?" Are they saying that because people lose their jobs they are going to be loaning more money and should be allowed to do so?
Its being going on for years and everyone ignored it because the housing bubble allowed that.
How crazy.
2. it_is_going_with_a_bang said...
"the market shows no signs of being able to satisfy this heightened demand"
How strange that a bank would not want to lend money to someone that probably can't pay it back.
I think the term sub prime should just be changed to stupid lending.
3. confused76 said...
bankers are willing to lend you an umbrella in fair weather, but want to have it back when it starts raining
4. renting2 said...
So that's why I'm permanently soaked!