DINKS and NINJAs

[PaPaPeng]

DINKS = double income no kids.

Now this
http://www.economist.com/finance/displaystory.cfm?story_id=10286992

Crucially, both were property-related bubbles, commercial in Japan and
residential in America. Ironically, after the BoJ raised rates and
burst the bubble, American bankers and policymakers were quick to
lecture the Japanese. With four-fifths of Japanese lending ultimately
related to property, Americans were incredulous that banks had been
foolish enough to lend against collateral for which the value could go
down as up; in the United States, they said, banks lent against cash
flow, the best gauge of a borrower's ability to repay a debt. Japan
got into the mess by assuming land prices only rose (in cities they
have since fallen by about 70%). But American financiers have made the
same silly assumptions, gaily advancing money to “ninjas”: people with
no income, no job and no assets. Even if some local property markets
tanked, they figured, a nationwide bust was almost unthinkable. They
were very wrong.