As investors worry about a recession on the horizon, a record 7 million Americans have stopped paying their car loans.
Posted: Sat Mar 23, 2019 7:36 am
Business Insider - 3/23/2019 - Alex Morrell - Ten years into a bull market, Americans are getting jittery about when the music will stop and the next recession will tear through the economy. While bad economic omens are being spotted in a variety of places, last month it was a spike in auto delinquencies that spooked market participants. The Federal Reserve reported the number of borrowers with auto loans more than 90-days delinquent shot up by 1.5 million in the fourth quarter, reaching a total of 7 million — the highest mark ever in absolute numbers, though not as a percentage of the auto-loan market, which has ballooned over the past seven years. Read more @ https://www.businessinsider.com/why-ame ... -up-2019-3