Subprime-Autokredite, die mehr als 60 Tage überfällig sind, erreichen Rekordniveau [OC]
Von DataVizHonduran
Subprime-Autokredite, die mehr als 60 Tage überfällig sind, erreichen Rekordniveau [OC]
Von DataVizHonduran
8 Kommentare
Source: Fitch, Tools: Python and Plotly
Interesting how prime loans are still at (fairly) low levels. To me this stands out as an illustration of the (US) inequality issue. Lower income households are feeling the crunch far more than upper income households.
Isn’t this what they saw with subprime housing a year or two before the crash? Or do I have that wrong? I thought one of the warning signs was the large amount of homeowners not being able to keep up with their mortgages that they couldn’t afford in the first place? Not saying I think that’s happening, just genuinely curious.
Would be cool to see another piece of data: mean loan payment in current/constant dollars.
Nice chart.
My instinctive read of the chart prior to 2020 and knowing the economic history is that there were a couple of spikes caused by issues in the economy. However there was also a general rise 2013-2019 that I didn’t think correlated to an issue in the economy… And what we see today is likely a continuation of that trend.
So what is that trend? Is that the growth in companies that make money by financing those with poor credit for cars that they repo every few months? Is this sparked by companies figuring out that this is profitable?
why is the data periodic? there is a yearly high-default season with two peaks a year. Does it have anything to do with taxation frequency in the US or something? Or do the dips cooincide with common bonusses or alloance?
Could this indicate a higher default opportunity leading to a potential surplus of houses on the market meaning possible lower house prices?
because incomes have lagged for decades. and once you’re poor it costs you more on every level to even make basic requirements.
You make less $ so you have less cushion.
Your job is probably lower tier work, you’re more likely to be fired or replaced.
You have to have reliable transport, but all truly reliable transport is out of reach or costs some crazy amount. They will only loan you so much, but at a shit rate.
auto companies and dealerships have started to really focus on bundling these debts and selling them. They have to sell cars and move loans and so they search out buyers, not really caring how realistic it is, or if the loan will be paid at all, because in a few months they won’t own the loan any longer.
Many similarities to the 2008 crash and bubble. Shady paperwork and inflated costs and really poor risk loans being spread out. You think a stripped out house with a bad roof is shitty collateral? Think about these automobiles. Scrap metal