Some Americans are falling behind on their car payments, notes Grumpy Editor.
An analysis by Moody’s Analytics reveals 9.3 percent of auto loans to people with low credit scores were at least 30 days behind on payments at the end of 2022.
A shortage of vehicles resulted in a jump in car prices.
Many borrowers took out higher loans to meet the increased price tags. Thus, it was more difficult for some to keep up with payments.
Borrowers who took out big loans at the height of the boom owe more than their vehicles are worth.
So they are falling behind in their payments.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
HOUSING MARKET VALUE DROPS. In the last half of 2022, the value of the U.S. housing market shrank by the most since the real-estate bubble popped in 2008, notes Bloomberg. After peaking at $47.7 trillion in June, total value of U.S. homes declined by $2.3 trillion, or 4.9 percent, in the second half of 2022, tallies a real estate brokerage.
ALMOST THE SAME HEADLINE OVER THE YEARS. For years, since after the Korean War, this headline appears, at least on a weekly basis. From: Saturday newspapers…"North Korea test-fires missiles.”
U.S. TROOPS TO TAIWAN. The U.S. is preparing to send 100 to 200 troops to Taiwan for training amid rising tensions with China. The Michigan National Guard also will train a contingent of the Taiwanese Army.
WHITE HOUSE MESS REOPENS. On March 6 the White House Mess will open for in-person dining for the first time in President Biden’s White House. The wood-paneled room with a nautical theme has been closed since the winter of 2020 under COVID restrictions.
BUT IS IT REFLECTED ON YOUR BILL? Natural gas prices have dropped moe than 65 percent since mid-December. That’s the lowest level since 2020’s pandemic lockdown.
ANOTHER JOURNALIST IS KILLED IN MEXICO. A Mexican news photographer dies after being stabbed and beaten in an attack in Ensenada, a popular destination of tourists from California.
DOGS AND CAR WINDOWS TRIGGER REACTION. Proposed Florida legislation to ban dogs sticking their heads out of Car Windows when vehicle is in motion gets animal lovers upset.
