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Message
re: Delinquencies on auto loans are at the highest level in a decade
Posted on 9/15/23 at 10:16 am to SlowFlowPro
Posted on 9/15/23 at 10:16 am to SlowFlowPro
quote:
Credick
For the first time in years, CCs are offering good signup bonuses. People are just rolling debt into new cards/loans
DTI is at 40% for the first time ever. I made a thread about it last week. Kicking the can down the road will only get you so far.
This post was edited on 9/15/23 at 10:18 am
2
Posted on 9/15/23 at 10:17 am to stout
quote:
Kicking the can down the road will only get yu so far.
It happened to me when I was younger. I will never go through that shite again. I'll live in a 350 sq ft mobile home before being that idiotic again.
Posted on 9/15/23 at 10:21 am to GetCocky11
quote:
before being that idiotic again.
I was building subdivisions and spec houses, owned a gas station, and was a partner in a flooring cabinet and granite store in 2007-08. I thought I was Trump Jr and the ride was going to last forever. I too will never be that stupid again. Building a successful business once was hard enough but I had to rebuild to where I am now.
Posted on 9/15/23 at 10:21 am to stout
I have been waiting for this for 15+ years. My body (and investment portfolio) is ready.
I just think the feds do something to figure out a way to borrow trillions more to kick the can, which becomes VERY scary.
I just think the feds do something to figure out a way to borrow trillions more to kick the can, which becomes VERY scary.
Posted on 9/15/23 at 10:23 am to RT1941
Gotta be a perception bias? 
I don’t think I’m noticing old beater cars and rundown or outdated homes as much in the comings and goings.
I don’t think I’m noticing old beater cars and rundown or outdated homes as much in the comings and goings.
Posted on 9/15/23 at 10:24 am to stout
More work for me
Posted on 9/15/23 at 10:27 am to SabiDojo
Call center skip tracer?
Posted on 9/15/23 at 10:28 am to SlowFlowPro
quote:
which becomes VERY scary.
Tax revenue in 2023 is falling but our Government is spending more than ever not to mention what we are already paying in interest on existing debt. None of it makes sense.
Posted on 9/15/23 at 10:32 am to stout
Yeah nothing is making sense anymore. I know some people try to do the "new way of thinking about things" or "new normal" explanations, but 2+2 has to equal 4. It reminds me exactly like 2008 on here where JT and Col Hap were warning everybody nothing was making sense and people were thought they were loons and too smart for basic fundamentals.
Posted on 9/15/23 at 10:43 am to stout
Bidenomics
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Posted on 9/15/23 at 10:47 am to JohnnyKilroy
But where are they getting the money? We keep hearing about worker shortage, nobody working, high COL, yet folks are out there living better than ever. You should see some of the designer stores. Always busy. With shoppers in pj pants and flip flops. What’s the secret we are missing?
Posted on 9/15/23 at 10:51 am to OysterPoBoy
Right here with u! Love me some random hashtags!
Posted on 9/15/23 at 10:59 am to Dixie2023
quote:
But where are they getting the money?
Some of the culprit but not all
quote:
Updated on: September 8th, 2023
Americans have an absolute mountain of credit card debt — $1.031 trillion, to be exact.
Americans’ total credit card balance is $1.031 trillion in the second quarter of 2023, according to the latest consumer debt data from the Federal Reserve Bank of New York. That’s up from the first quarter of 2023’s record number, leaving the balance the highest since the New York Fed began tracking in 1999.
LINK
Posted on 9/15/23 at 11:02 am to sidewalkside
quote:
for 95% of the original MSRP
I have no idea who is buying these used trucks that are the same price as new trucks. Some of them more. Is it easier to get financing or something?
Posted on 9/15/23 at 11:52 am to MrJimBeam
quote:
I'm ready for the auto market to crash. This shite is stupid.
The only problem is there's no picking and choosing what else crashes (because one sector's crash is rarely done in a vacuum) and who is impacted due to the rippling effect.
Posted on 9/15/23 at 11:56 am to Salmon
quote:
keep seeing all of these threads and it all looks bad, but then I go outside and everything seems to be getting more expensive and everyone seems to be having a good time and I have no idea what any of this means for me or anyone else. Am I alone in these thoughts/observations? I assume I just live in a bubble of mostly financially secure people. Or they are all just really good at hiding it, if they are struggling.
I feel the exact same way. Something like 30-40% of our gross income goes to savings or investing. No car payments because we are driving them till they won’t go anymore. No kids yet. We’re comfortable but it feels like we could do better with not spending as much. When we do eat out it’s mostly at like chipotle or chic fil a. Barely ever go to restaurants unless it’s a special occasion. We have some amenities like weekend trips locally and for friends weddings. But we aren’t taking week long vacations anywhere.
This post was edited on 9/15/23 at 11:58 am
Posted on 9/15/23 at 11:59 am to stout
So where are the repossessed cars going? They certainly aren't going back into the market.
Posted on 9/15/23 at 12:15 pm to Sao
quote:
Call center skip tracer?
Posted on 9/15/23 at 12:54 pm to RT1941
quote:
a ton of home improvements under construction all over the place
Home improvements are at a decade low, according to Home Depot & Lowe's CEO. They said people are now choosing experiences (concerts, vacations, going out) over remodels.
Posted on 9/15/23 at 3:57 pm to TigerintheNO
Flying Wheels video on the car market. #notgreatbob
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