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Episode 46 – Automobile Bubble Set to Pop
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In this episode, I discuss the current state of the automobile industry. To prop up new car prices, subprime lending has exploded in recent years as dealer inventories have increased. Dealers have pushed greater incentives and extended the term of car notes to attract borrowers of lesser creditworthiness. Used car prices declined nearly 4% in February, setting the stage for what I believe will be further declines. In an economy where people have leveraged themselves to the hilt, the automobile market may be the first domino to fall.
https://s3-us-west-2.amazonaws.com/mark-geise-show/Episode+46+-+Automobile+Bubble+Set+to+Pop.mp3
Suggested Readings/Referenced Articles:
“The Next Subprime Crisis Is Here: 12 Signs That A Day Of Reckoning Has Arrived For The U.S. Auto Industry” – The Economic Collapse Blog
“Why The Auto Financing ‘Bubble’ Is Really An Affordability Issue” – Forbes
“Signs Of An Auto Bubble: Soaring Delinquencies In These 266 Subprime ABS Deals Can’t Be Good” – Zero Hedge
Video: “Are Subprime Auto Loans the New Big Short?” by Bloomberg – YouTube
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