I thought the problem right now was supply, not demand, but this email spam that just arrived suggests otherwise:
Ads that make it appear Countrywide is desperate for more "homeowners with less than perfect credit" won't inspire much confidence.
Update: The Washington Post also notices:
What Credit Crunch? To Judge by Lenders' Teasers, It's Still Subprime Time, by Nancy Trejos, Washington Post: On AOL.com this week, the Internet-based loan company LendingTree offered "Bad credit options" and a $425,000 loan for only $1,376 a month. And Countrywide Financial, the nation's largest mortgage lender, declared, "Bad Credit? Call Today. Refinance or Tap into Your Home's Equity" in an online ad from its Full Spectrum Lending Division...