Bring it on!
A related story is many folks in western ND over bought on credit. I’m talking building huge homes, apartments to buying pickups with all the aftermarket trimmings. We are talking pickups worth over $100,000.
My daughter works out there and these people are suffering, but I do not feel sorry for them. Western ND has gone through at least 3 booms, each went through a cycle that ended with low oil prices causing layoffs.
In a few months to a couple years those homes will likely go quite cheap.
Warning: Half of oil junk bonds could default
http://www.freerepublic.com/focus/f-news/3370668/posts
Could this be related to the reason why they are called junk?