Home loan crunch a boon for pawnbroker

From: Oakland Tribune | Date: November 12, 2007| Author: | Copyright information

SOUTH SAN FRANCISCO -- David Newman isn't an economist, but from his vantage point as a pawnbroker, he sees an economic underbelly most people don't see.

"Times are getting harder, and more people are hurting these days," said Newman, manager of Cash Loan Inc. pawnshop in South San Francisco.

Newman often sees people come in with a stack of bills that need to be paid. They're carrying jewelry, guitars, power tools or other personal property they can pawn, and get a loan on.

Many are strapped by rising gas prices, mortgage payments and other costs. They need a quick loan to help pay the PG&E ...

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