Jul 30 in General discussion
Car Repos Up 23% - Recession Next?
The overall number of car repossessions has increased by 23 percent over last year. Not only that, but the current repossession rate has even eclipsed pre-pandemic levels, with 2024 sitting about 14 percent higher than 2019 repossession numbers.
In May the average American new car buyer was paying $760 per month for an auto loan, with 17 percent of car owners committing to a monthly payment over $1,000.Those are crazy numbers.
Is a recession next?
This is why I love investing in CASHFLOW-producing assets like real estate. I use the cashflow from them to pay my living expenses.
"But Mike, I am too busy to be a landlord." You can invest in a totally PASSIVE way by investing in a real estate syndication.
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Car Repos Up 23% - Recession Next?
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