February 9, 2009
Sub prime warning
Story link: Sub prime warning
The problem is, people will always be forecasting doom and gloom so its hard to know when to take them completely serious.
The disaster that we currently have on our hands is a development from the 2007 sub prime lending, but anyone predicting that now, Is slightly slow off the mark!
We can’t say we haven’t been warned. The doom-mongers reckon America’s property market is on the verge of a new crisis as big as the subprime disaster that began in 2007.
The fear is that borrowers with better credit histories, who took out Alt-A mortgages, are defaulting on a similar scale.