|
|
Article: Crisis snags Main Street Some area banks hesitant to lend, some consumers nervous to borrow in climate
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- September 28, 2008
- Author:
CopyrightCopyright 2008 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
|
A corporate executive was about to buy a new $700,000 house in
Waukesha County last week, but then had second thoughts.
The uncertainty of the Wall Street financial crisis and the
misgivings it's stirred about the overall economy prompted him to
hold off, said Brian Wickert, president of the Butler-based Accunet
Mortgage.
"He said, 'Like millions of other Americans, I'm worried about
what's going on, so I'm not going to do anything,'" Wickert said.
"Here's a guy who's perfectly secure in his job, has hundreds of
thousands of dollars in the bank, and that's the kind of chilling
effect that you have. Even well-qualified buyers are backing away
from the table."
The crisis on Wall Street has ...