DETROIT (AP) — General Motors Co. will buy AmeriCredit Corp. for $3.5 billion, a deal that allows the automaker to expand loans to customers with poor credit and offer more leases, key areas where GM must grow to accelerate its car sales.[/quote]
This is why I laugh when Fannie and Freddie make threats about not letting people purchase a home within 7 years for strategically defaulting.
As the pool of credit worthy buyers shrinks, demand collapses. Demand collapses — jobs collapse — — pool of buyers collapse — credit worthiness collapses and of course;
