No, no surprise. Interesting that the industry is already dialed into the mortgage mess. From the same article:
“You’ve got a consumer right now that’s really being stretched,” Merkle said. “In many cases debt levels are incredibly high to the point where you’re seeing a lot of foreclosures.”
It’s not just going to be big-ticket items. It’s going to be everything.
Where’s that thread about the tipping point? I think whoever started it was dead on.