Wednesday, August 29, 2007

In New Zealand subrrime is run by finance companies – and they are dropping like flies

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 (630 views)
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