This is just the FIRST of many “overdue” payment types about to hit the fan!
Car payments usually start, because people have a second car they can drive.
Next up will be credit cards, because people will need their disposable income to pay for basic necessities, as their credit cards max out and they can’t pay those minimums anymore.
Then there will be missed house payments with another housing crisis!
At this point, we will be in a full-blown, honest-to-God, no-they-can-all-agree-on-it-now recession!!
It is coming!
It will be interesting to what type of damage the UAW strike causes. The union pays strikers $500 a week. That isn’t going to cover many $600+ monthly car payments. A parts company in a nearby town laid off 500 workers last week, so the damage isn’t just to UAW workers..