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09/15/07
Debt, subprime pressure biting into luxury sales
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:59 pm

Consumers are caught in an economic bear trap whose teeth include the slow housing market, subprime adjustable-rate mortgages, high debt ratios, and inflationary pressures on staples such as energy and food. Those economic daggers are straining household finances and taking a bite out of “discretionary” consumer spending — purchases of luxury durable goods and big-ticket items such as boats, cars and motorcycles.  More…

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