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Old 02-03-2020, 03:47 PM
 
Location: Chandler, AZ
2,920 posts, read 1,455,802 times
Reputation: 6923

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Quote:
Originally Posted by DefiantNJ View Post
I think most Americans don't have enough savings for emergencies and retirement.
They never do.
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Old 02-03-2020, 04:57 PM
 
Location: Pennsylvania
14,699 posts, read 5,010,895 times
Reputation: 11593
Quote:
Originally Posted by Bubble99 View Post
Most Americans can't pay their mortgage or car loan these days and it seems they back to allowing subprime car loans these days and subprime mortgage for their home.


How is this legal? I thought subprime car loans and subprime mortgage are not legal?


What is going on that most Americans can't pay their mortgage or car loan these days? I know the Auto industry is not doing well.

That Americans are that in debt they cannot pay the mortgage and car loan these day or just don't make enough money at their job.

--
Please provide some numbers and analysis.
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Old 02-03-2020, 04:58 PM
 
76,522 posts, read 75,877,273 times
Reputation: 53727
Quote:
Originally Posted by jnojr View Post
They never do.
Half of working Americans don’t even earn enough to pay income taxes ..so no savings is the norm
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Old 02-03-2020, 06:48 PM
 
11,864 posts, read 9,258,011 times
Reputation: 30463
Quote:
Originally Posted by Bubble99 View Post
Most Americans can't pay their mortgage or car loan these days and it seems they back to allowing subprime car loans these days and subprime mortgage for their home.


How is this legal? I thought subprime car loans and subprime mortgage are not legal?


What is going on that most Americans can't pay their mortgage or car loan these days? I know the Auto industry is not doing well.

That Americans are that in debt they cannot pay the mortgage and car loan these day or just don't make enough money at their job.

--
What makes you think subprime loans are illegal?
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Old 02-03-2020, 09:20 PM
 
2,070 posts, read 1,432,557 times
Reputation: 3597
Most recent article I could find shows more than 7 million Americans are 90 days behind their car payments.

https://www.cnbc.com/2019/02/12/a-re...-payments.html
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Old 02-04-2020, 06:58 AM
 
Location: Knoxville, TN
1,841 posts, read 846,914 times
Reputation: 4644
Quote:
Originally Posted by Lucy_C View Post
"Most Americans" is an incorrect statement.

Irregardless (ha!), I'd bet that a fair number of those same people who indeed can't pay their mortgage or car loan are somehow able to pay for smartphones and phone plans, cable internet, nice clothes, vacations, dinners out, etc. And they probably purchased too much house and/or too much car.

It's all about choices.
Oh, here we go with the old "people on welfare with fancy manicures" trope. The following observation was made in an article about Toledo: “You have more student loan debt and hospitals have been getting more aggressive in collecting medical debt in our area. The people I see, they may have jobs but they’re not jobs that offer medical benefits or other benefits." Bankruptcies are on an uptick and it isn't because someone is carrying around a smartphone.
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Old 02-04-2020, 07:49 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
31,441 posts, read 57,331,944 times
Reputation: 33874
Quote:
Originally Posted by Stockyman View Post
Most recent article I could find shows more than 7 million Americans are 90 days behind their car payments.

https://www.cnbc.com/2019/02/12/a-re...-payments.html
Yet that's still only 2.4% (according to the article), not what I would consider a crisis by any means. It also says that most of those are sub-prime loans from finance companies and low income car buyers.
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Old 02-04-2020, 07:59 AM
 
Location: Chandler, AZ
2,920 posts, read 1,455,802 times
Reputation: 6923
Quote:
Originally Posted by mathjak107 View Post
Half of working Americans don’t even earn enough to pay income taxes ..so no savings is the norm
Low income does not preclude savings. Plenty of top x% earners live paycheck to paycheck and have no real savings and lots of debt.
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Old 02-04-2020, 08:18 AM
 
4,165 posts, read 1,173,734 times
Reputation: 7269
The OP, bubble99, has not returned to the troll thread s/he started. Time to move on.
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Old 02-04-2020, 09:40 AM
 
6,193 posts, read 3,351,326 times
Reputation: 11275
As a country we have too much debt leveraged into our economy. While the OP’s point is not accurate his/her premise is.
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