re: Is it Really That Bad Out There?

You don’t see me paying that money. It’s bad for the middle class. Inflation is a bitch. Worst in 40 years.

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How many of those people paid cash?

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I know a guy worth 20 million that finances his Yukon. He writes it off as a business expense. Just because you don’t pay cash doesn’t mean you’re not financially capable.

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23% make more than $100k

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Is this accurate??

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Here is my question of all those household 200-275 gross income if one higher earner are both earners lost there jobs , how long could they make those payments??

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Solid question. This board is predominantly frequented by Louisiana folk. 200-275 gross is quite a substantial income for this area. This isn't Silicon Valley or Wall St. One rarely stumbles into this bracket out of dumb luck. People in this region reaching this level of income generally acquire it over time with skill, perseverance, and focus. They are typically blue collar, entrepreneurs, and/or professionals. That being said, debt is a weight around their ankles while drowning. Debt is to be avoided at all costs. If they lost so said income they would be fine. If not, they would start where the came from ( the bottom) and rebound.

People are leveraged up to their eyeballs in debt

And that’s not including the credit cards either

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People are leveraged up to their eyeballs in debt And that’s not including the credit cards either

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It’s called “doom spending.” Eventually it will catch up to everyone. Similar to the over inflated housing market when it crashed. Except this could hit nearly every market. The problem is the markets are inflating but for the most part pay isn’t inflating at the same rate. And consumers could help bring it down by not spending as much but that’s not what’s happening.

I make close to half a million a year and drive a Tundra I bought used 9 years ago for $17,000. Vehicles aren’t that important to me as long as they’re reliable.

Americans are a loooong way from hurting tho. Like you mentioned, $60k+ vehicles all over the road, restaurant parking lots packed, $100k+ boats all over the lake, golf courses booked up, etc. I just have to assume we’re a long way from a major recession.

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People are paying $150k for a $70k sticker. Stupid

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Do you have any examples of that? I can make a short list of cars that command an $80+ ADM but I can't think of one that is near $70k.

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I took my kid to get donuts Saturday morning, when we pulled up he stated "Where Are We Living Beverly Hills?"

Freaking Range Rovers, Corvettes, Mercedes, BMW's all over the parking lot.

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We moved into a new neighborhood this January. I drive a 2020 Silvarado (paid for), wife drives a 22 Bronco (owe a little)

Every house here has two or three cars. All of them are Lexus, BMW, Range Rover, Mercedes, etc. Im like, we the poor folk in this hood now

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I swear I see 20+ new models of vehicles that go for $90k+ every day driving around town

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You'll likely be able to get a deal on them within the next year.

Vehicle repos have been increasing.

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Car repossessions rocketed higher in the first half of the year, a sign of rising consumer distress as the US Federal Reserve weighs interest rate cuts.

So far in 2024, repos are up 23% compared with the same period last year, according to data from Cox Automotive. With high interest rates and inflation hitting household budgets, the spike in seizures provides a window into the average consumer’s financial health at a key time for policymakers. Repos started ticking up last year and have now surpassed pre-pandemic levels, up 14% compared to the first half of 2019.

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