Mortgage meltdown isn't just for people with bad credit, 2.3% of prime loans were 60 days past due in February, up from 1.4% a year ago and the highest in a decade. [USATODAY]
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Comments:
@david_consumerist: Yes, Yes I can.
It's pure economics... gasoline prices are a major factor for most. That, and people are afraid to get rid of their gas hogs. I personally love my guzzler, but it may have to be parked sooner than later. Anyone interested in selling me a good used Prius?
Housing and loans associated are only going to get worse as the cost of living outpaces the living we're making. My cost of living has raised fairly significantly. You can't just look at gas, it affects all consumable goods and services all around.
Everyone's compensating with credit to pay for over priced goods and services.And these companies price their stuff with consumer credit in mind.
On one hand the irresponsible use of credit is to blame but these companies rely on the "convenience" or lure of credit to pay prices and for stuff they might think about if it were cash.
I wonder how many of those are from people who can afford to make their house payment, but just don't think that it's a "wise financial decision" to do so.
chutch: it's not they may not want to get rid of the SVU, the bigger problem is that there's no market for them. Guy down the street from me has been trying to sell a Tahoe and an oversized Ford diesel pick-up for 6 months with nary a nibble.
Can you say oooooooooooops.