Starting to hear rumbling in Motown about how the most recent batch of auto sales numbers (good ones) are being driven by credit. So the boom here might be drawing to a close.
And that being funded by the Fed's printing and bond buying. Nothing has been fixed.
Maybe. American bowers and lenders are not idiots though and they generally don't finance what won't pay off.
“Starting to hear rumbling in Motown about how the most recent batch of auto sales numbers (good ones) are being driven by credit. So the boom here might be drawing to a close”
Over a trillion dollars of Auto debt last I heard, a lot of it will never be recouped. The shady loans moved from housing to Autos and it wasn’t an accident, it was part of the Detroit bailout.
Home Mortgages are rediculously low yet the Homes for sale in my neighborhood aren’t moving. One home down the Street has been on the market nine months and another three months. I don’t even see Realtors walking Customers through them. But the economy is great so we are lead to believe.