A record 7 million Americans are 3 months Behind on Their Car payments

[Barnett114]

A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis.

Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.

https://www.washingtonpost.com/busi...ents-red-flag-economy/?utm_term=.4f41f64bd56b

 

[EBK String]

The economy will crash in 2020 and it will be ugly. Just like in 2008 the streets knew shyt was fukked up, Jeezy dropped the recession the summer before the market crashed

 

[Supercoolmayo]

I dont it unemployment is low tho

 

[YamakaSmacker]

I just finalized my loan for a g63 $0 down. Bought a car cover because my apartment complex doesn’t offer car ports.

Brb, bout to hit the laundry mat

 

[goatmane]

the next recession is gonna kill folks.

last recession, you lost your house, you got a decent apartment for $600

same apartment now is $1200 probably

most people already renting. whats gonna happen when they cant even do that?

 

[AquaCityBoy]

My shyt due tomorrow

 

[Youhadasparkwhenustarted]

The unemployment numbers are juked:
Top 5 Problems With the Unemployment Rate - SmartAsset
The way the stat gets paraded around like its a sign of a healthy economy is nothing but propaganda.

 

[Bossino]

I dont it unemployment is low tho

Doesn't matter if your making minimum wage and or overspending

 

[phcitywarrior]

Get out of debt brehs

We got a thread on this. Things gonna be real scary real soon.

 

[ReadOneBookAWeek]

I know a 30 yr old chick in desperation mode right now because she 3 months behind. She's been clubbing every weekend tho even driving out of City to party.

 

[ORDER_66]

I miss my car... Bet you alot of these people in the study worked for the govt and trying to catch up on their bills now...

 

[Standing on business]

That’s kind of scary when you think about the overall picture

 

[OG Talk]

https://www.washingtonpost.com/busi...ents-red-flag-economy/?utm_term=.4f41f64bd56b

Interesting..

I’m in the process of trying to get a new car. My credit is good (not great), I have a good salary and work history and the banks have been acting stingy with the interest rates and approval ceiling

This kinda makes sense now. They looking at everyone as a repo risk

 

[Wild self]

Cause wages stagnated andans basic cars like a Toyota or a Honda are over 25k nowadays

 

[Ol’Otis]

an alert just popped up on my phone saying this

2020s gone be a fukked up time