Winnebago Chief: Loan Crisis May Hurt RV Market
STEVE INSKEEP, host:
Executives in other industries, not just housing, now wonder if all those mortgage problems are going to affect their own profits. Refinancing gives homeowners money not just to pay off their homes but to buy things like, say, RVs.
And our last word in business today comes from the CEO of a company famous for its recreational vehicles. Yesterday the head of Winnebago said he is worried about the trouble in the subprime loan market. The CEO says his industry has already had a tough few years. Sales have dropped, partly because of rising energy prices, and now he says if nervous mortgage companies tighten their lending standards, it could make things even tougher. He is still, though, hoping that baby boomers ultimately will not let anything get between them and their dreams of a rolling retirement.
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