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The Recusant
Member since May 2012
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Deep Subprime Auto Loan Delinquencies Reach 2007 Levels: The Next Big Short? - Mish - Global Economic Analysis

MIsh:

Great article and headsup on what's happening in the subprime loan and bond sector. The possibility of a crash due to the auto loans has been on people's radar now for over a year and it has gotten much worse and is affecting car sales and the car producers.

Here we go again!

Commented 2432 days ago

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Beginning of the headline :Subprime auto delinquencies have staked up so much that we are back at 2007 milestone levels. There’s a section of the auto-loan market — known in industry parlance as deep subprime — where delinquency rates have ticked up to levels last seen in 2007, according to data compiled by credit reporting bureau Equifax. “Performance of recent deep subprime vintages is awful,” Equifax said in a slide show on second-quarter credit trends. Analysts have been warning for years that subprime car loans pos... Read More

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