‘People in the U.S. need to wake up’: As a mortgage loan officer, I rejected wealthy couples due to overspending. We’re all heading for trouble.
“We’d better get real quick or we’re going to have a financial crisis that makes the Great Recession of 2008 look like a picnic.”
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# Investing Summary A mortgage loan officer warns that excessive consumer spending among affluent households poses systemic financial risk, with potential consequences comparable to or exceeding the 2008 financial crisis. This commentary suggests deteriorating household debt sustainability could trigger broader market instability, though no specific companies or quantified economic metrics are provided in the article.
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