America’s bad auto loans could have nasty consequences
The country’s credit unions are particularly exposed
The Federal Reserve’s interest-rate rises are causing pain in the land of casinos: Nevadans are googling how to return their car more than folk in any other state. Yet while their pain is acute, it is not unique. Across America, the share of high-risk auto borrowers that are behind on payments by at least 60 days reached 6.1% in September, its highest in three decades (even if just a little higher than in 2019).
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This article appeared in the Finance & economics section of the print edition under the headline “Death valley”
Finance & economics November 11th 2023
- Are politicians brave enough for daredevil economics?
- America’s economic might gives it little sway in the Middle East
- America’s bad auto loans could have nasty consequences
- Forget the S&P 500. Pay attention to the S&P 493
- Why American manufacturing is becoming less efficient
- The Chinese yuan is losing value, yet gaining ground
- In praise of America’s car addiction
From the November 11th 2023 edition
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