Consumers have embraced 'Buy Now, Pay Later' products that allow them to pay for purchases in installments, but it's not clear how many of these loans are out there.
Business cards are useful for this. I have enough revolving credit limits now that it doesn't matter, but at one point I preferred to churn business cards, since a month's worth of expenses could ding my credit.
Maybe the government should actually try protecting people who are obviously too stupid to avoid these predatory practices. Maybe we should invest in an educated country. Maybe this is all working out just fine for businesses tied to politicians and therefore nothing more to worry about.
For sure, but there were individuals buying homes too. Also, no savings, no more Airbnb and maybe can’t afford rent. Corporations will lose money, but they can sit on properties indefinitely.
Wells Fargo estimates that there's about 46 billion dollars in phantom debt, and that's just from "Buy Now, Pay Later.” And that's just in the US alone.