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Interesting Article in Barrons
Car repos are going up. The talked to an owner of a business that bids on repos and he said that most of the repos are on loans made in 2020 and 2021. He said the loan to values were 140% in many cases and that it looked like the lenders made these loans to people who get a temporary bump in their income levels from stimulus money. He said in one case the made a loan with a 1000.00 per month payment to someone who made 2,500 a month. I guess we will see used car prices start falling if there is a large amount of repos. I wonder if lenders included stimulus money in underwriting other types of loans. I guess we will see.
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While I'm not happy to see the recession here, it was a given.
Depth and length are the only questions. My guess deep and long.
The lenders and borrowers deserve the butt whipping here.
Housing is going to be ugly, mostly in the hyperaccelerated areas.
Not a good time for some folks. They bet on success, not facts.
Again, considering the 2007/2008 situation, they all can wear it.
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The silver lining here may be that if used car prices fall it is going to help ease inflationary pressures. I don't think this is going to be the only area where prices start easing. I hope the recession is already here. The quicker it gets here the quicker inflationary pressures may start easing.
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IMO, it's here and has been for a few months. Credit set another record in May, just released.
And I'm actually seeing much improved sales at the grocery, my job is cooking and shopping.
Plus, we have been getting a lot of e-mail regarding apparel, electronics, etc. on sale as well.
We do need a recession, a soft one, not terribly deep. However, I don't think it will be either.
Odds are pretty good on large scale defaults, including corporate. Plenty of stupidity lately.
Super savers are going to be the winners by year end. Of course, the war is a strong variable.
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When your friend bids on repo’s, do they ask how much fuel is in the tank?
Could make a $100-$200 difference in bid?
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https://www.reddit.com/r/Superstonk/...tm_name=iossmf
When the chip shortage ends. You’re going to hear a loud pop.
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