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Subprime Defaults in New Zealand: 9.1%

Published April 7th, 2008 in Uncategorized. Tags: , , .

I was exploring some blogs looking for some more hints at the problems with subprime and came across a blog noting 9.1% default rates in New Zealand.  This is a startling rate and will certainly send shockwaves into Oceania.

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« The White Knight Fed To Become Subprime Cop
IMF: Credit Crisis to Cost Near $1 Trillion »
This blog discusses subprime mortgage problems. Subprime problems began when lenders offered loans to potential home owners with bad credit or credit / income that did not meet the standards of traditional lending. Subprime mortgages for people with bad credit or no credit face an uncertain future. Once the hope of many to enter into home ownership has now been corrupted both by overreaching consumers and predatory lenders. I hope to follow the aftermath of this crisis.

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