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re: Delinquencies on auto loans are at the highest level in a decade
Posted on 9/15/23 at 4:05 pm to stout
Posted on 9/15/23 at 4:05 pm to stout
Gee, whoda thunk it. With car notes in the $600-$700 monthly range, then insurance, maintenance, etc. it's no wonder people are upside down on these loans and defaulting.
0
Posted on 9/15/23 at 4:05 pm to stout
Delete: Double post.
This post was edited on 9/15/23 at 4:06 pm
Posted on 9/15/23 at 8:39 pm to stout
Its coming. Credit cards and auto loans always are the first to go. Mortgages will be next. Same pattern in 2007 but for different reasons and before anyone says anything I am not saying 2007-08 will happen again.
Oh, it will happen again, and sooner than most people think.
When it does all come unwound, 2007-08 will look like peanuts.
Oh, it will happen again, and sooner than most people think.
When it does all come unwound, 2007-08 will look like peanuts.
Posted on 9/15/23 at 10:06 pm to tiggerfan02 2021
You are dead wrong about mortgages. Vast majority of houses are either paid for, more than 40% paid for, or have a low interest rate. These don’t default. There is no housing bubble. There is nothing, and I mean nothing comparable to 07-08.
People will default CCs and cars so they DON’T lose 6 digit equity with a 2.9 mortgage.
People will default CCs and cars so they DON’T lose 6 digit equity with a 2.9 mortgage.
Posted on 9/15/23 at 10:07 pm to stout
Don’t forget the $90k truck towing the $80k bass boat with all the electronics that can fit. Time to short Affirm?
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