The Auto Loan Bubble Just Got Worse
Published: 2023-10-30
Status:
Available
|
Analyzed
Published: 2023-10-30
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Subprime auto loan delinquencies have reached a 29-year high as of late 2023.
"The percentage of subprime auto loan borrowers that are at least 60 days delinquent... just reached 6.11% which is the highest level that we have seen since 1994."
Pending
Auto repossessions in the US are projected to reach 1.5 million in 2023, an increase from 1.2 million in 2022.
"we are seeing that there are expected to be 1.5 million repossessions in the United States in 2023 by the end of this year and that's up from the 1.2 million repossessions that we saw happen last year"
Pending
20% of US borrowers have a monthly car payment exceeding $1,000.
"in America one in five borrowers have now a car payment over $1,000 a month"
Pending
Used car prices are expected to continue to decline as interest rates remain high and inventory increases.
"if you are in the market for a car I mean it looks like as long as we continue to see higher interest rates you can expect to see use car prices to probably come down a little bit more as inventory begins to rise more"
Pending
Expect better car prices in 2024.
"I have a feeling that you will see better car prices in 2024"
Pending
Non-100 largest banks are experiencing record-high credit card delinquency rates.
"all the other banks that issue credit cards these banks are seeing a quick uptick in credit card delinquencies it is actually read you directly from Wells Fargo it is the highest delinquency rate ever for the non 100 largest banks out there"
Pending
US total credit card debt surpassed $1 trillion earlier in 2023, setting a new record.
"earlier this year not that long ago we broke a brand new record high of credit card debt we passed a trillion dollars of total credit card debt in the United States"
Pending
A potential economic slowdown is anticipated as consumers' ability to spend on credit cards and home equity diminishes, leading to reduced purchasing.
"eventually people will lose the ability to spend on their credit card and if home sales start to slow even more eventually home equity starts to stop Rising maybe even starts to fall a little bit... that can push people's ability to keep spending much lower and if People's ability to spend starts to go lower well then people can't keep swiping people can't keep buying and if people can't keep buying that's what slow downs slows down the economy"
Pending
Stimulative monetary policies used in 2020-2021, when inflation was not a primary concern, now pose a greater inflationary risk if similar measures are needed for an economic slowdown due to existing inflation.
"if we were to see more of an economic slowdown while inflation is still a problem that poses a bigger inflationary risk because the FED stimulated the economy like crazy in the most recent recession 2020 2021 it made people feel richer during that time but today we're feeling the impacts of that"
Pending
Used car prices are predicted to be better in 2024.
"you will see better car prices in 2024"
Pending
A decrease in consumer spending ability will lead to an economic slowdown.
"if People's ability to spend starts to go lower well then people can't keep swiping people can't keep buying and if people can't keep buying that's what slow downs slows down the economy"
Pending
An economic slowdown occurring alongside persistent inflation poses a heightened inflationary risk if the Federal Reserve intervenes with stimulus measures.
"if we were to see more of an economic slowdown while inflation is still a problem that poses a bigger inflationary risk"
Pending