Credit Crisis is Over! Yay!

What Credit Crisis (0.00 / 0)

Don't know about commercial credit, but one with a stable, even if not a very large income, a good credit history, or a twenty percent down payment has access to consumer or mortgage credit at a great rate. Access to credit in the U.S. at least is just about the best it has been in the history of the world. But no, one will not get a loan that he  cannot reliably afford to pay back on the premise that his house value will continue to rise as had been expected in the house buying boom.

With assets or reliable revenue one has access to credit at a good rate. What is the credit climate by which we judge the current one a crisis?

So what if companies who bullishly made or bought insecure loans take a hammering? And so what if people who took loans they could not reliably afford have to move back into apartments. After years of saving a down payment I bought a house last year. Since my purchase the house has lost market value. Ho hum.  

What happens if and when there is a crisis? Will we call it a super-crisis?   

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by: naftali @ Thu Apr 17, 2008 at 20:43:26 PM UTC