Bubble?

Bubble?

  • Fact: #

In 2008, unsecured loans made up 10% of the total value of loans granted in that year, in 2011 they made up 23% of the total value of loans granted. (Eighty20 Credit Bubble Report 2012, NCR data)

This week’s theme: Credit in South Africa

One response to “Bubble?”

  1. Tim Mattison

    12 years Ago

    Is this due to the government changing the rules on secured loans? The Canadian government is doing this next year ( http://j.mp/PDm8dH ). I think the reducing the maximum duration of a mortgage is a step in the right direction. Devoting a large chunk of your economic output for 30 years (there are 50 and 100 year non-commercial mortgages) just to put a roof over your head is surreal.

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