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This is not surprising, more likely inevitable, and will come for all age groups. When the median price of a car is $46,000 and Americans started taking out 7-year loans on vehicles, that should have been a warning sign that transportation was getting too expensive. This was an issue many pointed out here back in 2016 and 2017 when these loans became commonplace.
Those extremely long loan cycles are also hurting the used car market. We went directly from Cash for Clunkers to 7-8 year loans ensuring the used car market would remain bare.
Status:
"I don't understand. But I don't care, so it works out."
(set 2 days ago)
35,607 posts, read 17,927,273 times
Reputation: 50631
Sounds like we need more cars on the market that are bare-bones and much less expensive.
As hard as it is to go backwards in bells and whistles, seems like the market could produce a new car that sells for a lot less. That can be worked on in the driveway by people who have the knowledge and desire to fix their own routine mechanical problems.
I see this attitude from the left more and more. "Well, what would you do?" At first I took this to be a sarcastic way of putting the right down. I'm starting to sense a bit of desperation in those pleas as it changes to: Seriously, what would you do? We have no idea.
My answer is: We didn't break it and we are in no position to fix it. Step out of the way and let us show you.
not really surprised. When i was in that age group I brought cheaper used vehicles, even if my income could afford something new. Just about every person i know under 30 or 35 who own a vehicle has new or almost new cars while working even relatively low paying jobs. Including a few who still live with their parents in their 30's working retail yet driving 30k cars. Too good to drive a couple year old Corolla you could get for half that. At least up to a year or two ago.
It isn't the responsibility of the Republicans to solve these problems. The Dems wouldn't listen anyway.
Biden and the Democrats preached about how they had all the answers with their Green New Deal and Build Back Better. Now that we have high inflation and high energy costs because of their policies, it's obvious that the Dems are in it way over their heads.
All the misery people are feeling comes from one person and one place. The idiot currently sitting on his duff in the Oval Office. The fish stinks from the head down but Biden would rather point the finger at everybody else.
So you don't have an answer. All you want to do is complain. I see a whole lot of projection here. Where the rubber hits the road, those accusing the left of "just wanting power" are the ones yelling about burning the nation down, and the ones who have absolutely no solutions. So...it's a desire for a power grab. Until I hear real answers I have no reason to believe otherwise.
But deep down I think it really is just sour grapes and the desire to be able to rant and be angry.
"Young consumers who have managed to purchase cars aren’t having an easy time paying off their loans, according to data from credit reporting agency TransUnion. Gen Z and millennial borrowers are now dealing with higher auto loan delinquency rates than before the pandemic."
"The good times of easy credit seem to be coming to a close as subprime borrowers are increasingly falling behind on payments. That scary trend is happening on debts ranging from credit cars to vehicle loans. Car loan defaults hit 8.8 percent in February, a 15-year high, according to Equifax."
..................... and the libs complain about the "daily negative threads" about Biden!!!! Well...... it is because he delivers new daily misery to the US.
Biden's disasters never seem to end.
If libs don't like hearing about liberal policy disasters, STOP VOTING DEMOCRAT AND HELPING TO FOIST LIBERAL POLICY UPON THE NATION. Don't vote any more and leave political decisions to the sane and the grown ups, not the unwashed throngs with blue hair.
I agree. This ship is unsinkable. And the idiots in the lookout towers keep yelling "iceberg." It slows us down and we'll never make it to New York if they don't shut up and let us plow right on through them. And the damn band stops playing in the ballroom every time one of these morons yell. And the bartender stops mixing my martinis. SHUT UP, and full steam ahead!
So still no solutions.
Vote red and we will get lots of amazing parroted memes?
Who needs solutions, anyway, when we can all go down yelling brilliant talk points at one another? Down in a blaze of glory, and all that. Solutions are for wusses!
Don't expect anyone to switch their vote to red when your entire platform is, "You guys stink, and here is a clever satiric three sentences I read on the internet today."
"Young consumers who have managed to purchase cars aren’t having an easy time paying off their loans, according to data from credit reporting agency TransUnion. Gen Z and millennial borrowers are now dealing with higher auto loan delinquency rates than before the pandemic."
"The good times of easy credit seem to be coming to a close as subprime borrowers are increasingly falling behind on payments. That scary trend is happening on debts ranging from credit cars to vehicle loans. Car loan defaults hit 8.8 percent in February, a 15-year high, according to Equifax."
Not to worry, Biden will give them a free EV and a tax credit to install a charging station in their home.
So you don't have an answer. All you want to do is complain. I see a whole lot of projection here. Where the rubber hits the road, those accusing the left of "just wanting power" are the ones yelling about burning the nation down, and the ones who have absolutely no solutions. So...it's a desire for a power grab. Until I hear real answers I have no reason to believe otherwise.
But deep down I think it really is just sour grapes and the desire to be able to rant and be angry.
What liberal BS. We tell you about WHAT TO DO AND WHAT SHOULD HAVE BEEN DONE ON A DAILY BASIS, BUT YOU IGNORE IT!
1. Don't spend an addition $ 2 trillion stimulus when it was not needed
2. Don't create a war on fossil fuels and suspend new leases in profitable fields
3. don't stop the Keystone XL pipeline
4. Allow new refineries
5. Stop the democrat war on coal
6. Don't due all the layoffs of employees over Covid status
7. Don't pay citizens to stay at home and not work
8. Don't send out $2,000 checks to citizens
9. Don't continue the war on the police
10. Eliminate leftist environmental regulations that prevent trucks from accessing jammed ports
11. Better transportation secretary who would have spread traffic to different ports
12. Secure the borders so we don't have millions more dependent, uneducated, and unskilled mouths to feed.
13. Don't signal to Russia that you "will do nothing" to oppose thier invasion, which has altered world wide oil and food delivery.
14. Don't use the FBI to attack concerned parents
15. Don't press false CRT and tranny indoctrination in schools.
16. Establish mandatory sentence enforcement, such that criminals are not routinely released to kill again
17. Don't allow criminals to loot and destroy business by refusing to prosecute crimes under $1K
18. Get a DOJ that will prosecute a criminal president who has taken bribes from foreign nations
There you go- just a short list of all the mistakes Biden has made which has precipitated this disaster
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