Foreclosure Trickle Down
I came across an interesting article this morning regarding the foreclosure crisis — on how Self-storage facilities are experiencing a high number of units not paying their bills.
It is an interesting to see that what is happening as a direct result of the foreclosure crisis. Not only are buyers finding it more difficult to qualify for a mortgage today, and the options for a mortgage significantly reduced there are others affected by this crisis.
It isn’t just the Banks
Here is a brief list of businesses that are affected by the mortgage crisis:
- Real Estate Professionals
- Mortgage Professionals
- Attorneys and Title Companies
- Stock Market
- Banks & Financial Institutions
The effects do not stop just there. Now it seems this crisis is affecting the companies that support these Professionals too. I was talking with a friend of mine and businesses like salons, plastic surgeons, and clothing stores are feeling the pinch too. Print shops, dry cleaners, restaurants are all affected too.