LC is the Next Internet Bubble

[BBingo]

You seem to be confusing "people with expensive houses" with "people with good credit scores".

Yeah, that strikes me more as an indication the folks in expensive houses are only slightly more likely to be able to afford them than those in regularly priced houses. So the average Joe with a 1.5mil house is more likely to default than the same Joe with a 450k house.


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[Unfolder]

What you are saying didn't happen and doesn't make much sense.  But the fact that you view the world as binary does explain your persona on this forum now lol

having worked in consumer lending for 30 plus years I can tell you one thing.... fico scores matter when estimating loss! ... most of us in sr. mgmt at one time or another tried to argue they didnt... the static pools of loss fell right in line all the way down the chart.... 

Hmm late response but...if I RECALL, during the credit crunch, just about every major bank went under, and that which was AAA+ became FFF- overnight. It was only through the largess of the Fed and the taxpayer that the entire financial market did not have a grand mal seizure. If A can become G when poo hits the fan, might as well start with G so there can be no surprise.

One good thing about G, you break even from the interest alone within 3-4 years (I think). Sprint to safety