The Impending iPhone Subprime Crisis
Since there are no results on Google for this term, let me be the one to coin it.
The iPhone Subprime Crisis is what will happen as a result of Apple lowering the point-of-entry price of a new iPhone while increasing the overall cost of ownership over the two year term of the contract (up to $2700!).
People who thought they couldn’t afford an iPhone when they cost $400 now (falsely) feel like they can afford one when it’s $200. After a few months of heavy bills, as the “cell contract foreclosures” begin, look out for a lot of used 3G’s coming to eBay.
