"Buy Now, Pay Later" Sign
notes: label: Description
content: Collected from a roadside in Baltimore, Maryland,this sign was used by national home builder Lennar Corporation to promote sales. In the early 2000s the wide availability of low interest rate loans enticed many people to purchase homes that they might otherwise not have been able to afford. The initially attractive mortgages proved disastrous for some when the low teaser rate reset to a higher market rate. The problem was compounded as the housing bubble burst during the economic downturn of 2008, and many home owners found themselves "underwater" (owing more that what they had paid.) Foreclosures skyrocketed to record highs as home owners, unable to pay the monthly mortgage on their "buy now and pay later" loans and unable to sell their houses and pay off the loan, sought relief.
setName: label: See more items in
content: Work and Industry: Production and Manufacturing
label: See more items in
content: Advertising
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content: Industry & Manufacturing
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content: American Enterprise
label: Exhibition
content: American Enterprise
label: Exhibition Location
content: National Museum of American History
dataSource: label: Data Source
content: National Museum of American History
identifier: label: ID Number
content: 2013.0300.01
label: accession number
content: 2013.0300
label: catalog number
content: 2013.0300.01
objectType: label: Object Name
content: sign
physicalDescription: label: Physical Description
content: plastic (overall material)
label: Physical Description
content: white (overall color)
label: Physical Description
content: red (overall color)
label: Measurements
content: overall: 24 in x 18 in x 1/4 in; 60.96 cm x 45.72 cm x .635 cm