Will Subprime Effect Consumer Spending?
Posted: Sun Mar 25, 2007 8:39 pm
Seattle Bubble Forum Archive
Archived forums. Find the live forum at SeattleBubble.com/blog/forum/
http://seattlebubble.com/forum/
Will Subprime Effect Consumer Spending?
Page 1 of 1
Posted: Sun Mar 25, 2007 8:39 pmPosted: Tue Mar 27, 2007 12:41 pmPosted: Thu Mar 29, 2007 11:41 amPosted: Thu Mar 29, 2007 7:31 pmYes, subprime borrowing will impact consumer spending. It impacts it the day they close. The borrower doesn't know it until they buy a Ford F-250 with $650 payment or until they refinance again 6 mos later when they realize that they are burning through cash.
Quotes of the week from a clients refinancing and employed with a major bio-tech company in Seattle and another who is in the business:
"...sucks when your stock options never materialize. I (tongue in cheek) thought we would be millionaires, but no go."
"Got to pay our IRS taxes. Shouldn't have bought that multi-family property last year."
I don't solicit these conversations, the borrowers offer these comments all on their own and all I can do is just put the poker face on and continue with their paperwork.
Quotes of the week from a clients refinancing and employed with a major bio-tech company in Seattle and another who is in the business:
"...sucks when your stock options never materialize. I (tongue in cheek) thought we would be millionaires, but no go."
"Got to pay our IRS taxes. Shouldn't have bought that multi-family property last year."
I don't solicit these conversations, the borrowers offer these comments all on their own and all I can do is just put the poker face on and continue with their paperwork.