"Buy Now, Pay Later" Sign


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.

See more items in: Work and Industry: Production and Manufacturing, Advertising, Industry & Manufacturing, American Enterprise

Exhibition: American Enterprise

Exhibition Location: National Museum of American History

Data Source: National Museum of American History

Id Number: 2013.0300.01Accession Number: 2013.0300Catalog Number: 2013.0300.01

Object Name: sign

Physical Description: plastic (overall material)white (overall color)red (overall color)Measurements: overall: 24 in x 18 in x 1/4 in; 60.96 cm x 45.72 cm x .635 cm

Guid: http://n2t.net/ark:/65665/ng49ca746ad-f625-704b-e053-15f76fa0b4fa

Record Id: nmah_1453551

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