My biggest concern with the upcoming recession is what I'm going to do with my deadbeat son in law.
Of course I'll step in and help out my daughther if they get in a financial bind, but I really don't want to give that guy a free ride.

Analysts predict auto loan delinquencies will keep rising into 2024. David Zalubowski/AP

A record number of subprime borrowers are behind on auto loan payments by more than 60 days.
The rate hit 6.11% in September, per figures from Fitch Ratings reported by Bloomberg.
Vehicle repossession rates are also on the rise, leaving many without transportation.

A record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg.

The rate hit 6.11% in September – the highest since records began in 1994, and was up from the 5.93% recorded at the start of the year.

Analysts predict that auto loan delinquencies will continue to rise into 2024 and peak at about 10% before they start to fall, per CNN.

In the second quarter of this financial year, credit card debt surpassed $1 trillion for the first time in the NY Fed survey's history.

More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. As a result they usually have to pay considerably higher interest rates.

Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.

Yep. The worry here is that the luxury consumer is starting to pull back And that will have a major impact downstream.