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Will GM partner with Countrywide to help finance these?
not trying to be argumentative, but our opinions are based on our life experiences, yes?
I wish I had a dollar for every soccer mom and 1-2 kids I've seen driving an Escalade the last five years... Where I lived, at least for me, those luxury SUV's epiomized the calm before the storm.
It was a most interesting phenomenon I watched unfold in the SF Bay Area suburbs. Younger families with upper-middle class incomes, my neighbors, would buy a house out in the burbs. Maybe sold a house in silicon valley and moved out here with enough cash to put a sizable down payment, and buy a couple of new cars at the same time. The house would appreciate 15% or more per year. They acted as though this was a given... borrowing against that equity through re-fi avery couple years and buy toys like a new ski boat, an Escalade and boob job for stay at home mom, a new lifted 4x4 Diesel and Harley for dad. I couldn't understand it. Today those same neighbors of mine are selling off the toys, trading in the SUV 9the used car lots are full of SUV lease returns) Dad is looking for work (construction is all but stopped, lending and real estate sales are all but non-existent) Many, many foreclosures on everystreet.
I think GM is using this as a stop-gap until they can re-tool, they need a different customer, product, or both IMO
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