Quote:
Originally Posted by jpd80
I kind of think that things are a lot different to the GFC when housing and the stock market were in real trouble.
Sure the Americans are running into trouble with high priced vehicles but it’s not a uniform thing across the industry.
All of the below comments are regarding the US, not Australian car market:
One of the main differences is there’s low unemployment but people probably not making the wisest choices
with their purchases- those maxing out credit cards and getting easy finance are the ones under the most stress..
What’s hard to see in new vehicle sales figures is the difference between recent restricted supply situation and now
where buyers are definitely pulling back as the market cools. Lower inflation in the US plus promise of three rate cuts
has really lifted the stock market in recent days - some predictions of impending doom may be abating
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The major difference between USA and Aus in both car and housing loans is the ease of obtaining them.
Bad credit car loans are almost a meme in US culture. Here in Aus, application processes are stringent. We don't have a Fannie Mae or Freddie Mac here, never have, and we can't just walk away from our cars or homes if we can't make payments.