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Auto bonds increased in kind, as lenders packaged those loans together and sold them as securities on Wall Street, where ratings agencies labeled them as largely safe investments.
Even the economy nowadays is nostalgic about the 2000s.
Auto bonds increased in kind, as lenders packaged those loans together and sold them as securities on Wall Street, where ratings agencies labeled them as largely safe investments.
can you explain this in layman's terms? this means the loans that people take to buy cars, they got packaged together and sold as an investment for other people?
You've pretty much explained it in your second question. Yes.
In depth: https://youtu.be/GPOv72Awo68?si=GlMn5PYs2MNpIlD6
When I understood the article mentioned above correctly that's basically the exact same thing.
Recently I've been seeing a trend across social media from what appears to be car dealerships where they all different employees what they drive and car payment per month. I've had to have seen 20-30 now and only one person didn't have a car payment. The average car payment was clocking in around $650 with some up to $1000 a month. Something is definitely going to give somewhere bc salaries aren't keeping up with daily cost of living and raising interest rates.
I feel the same way, people are getting pressed in every direction. At a certain point, the pressing will have to stop.
Hopefully the pressure does not cause an explosion.
My wife and I have to split her $600/month car payment. I mean that's fair because we split it when we paid off my car, but mine was more like $450/month.
Meanwhile my wife gives me heat for $390 a month. I've explained numerous times that's not that bad considering I bought a used car during peak absurd pricing. The only reason I got something else was we needed a bigger vehicle and the salesperson laughed in my face when they asked how much I currently paid.
Posts like these are why I'll drive my stupid Chevy Volt until the battery dies.