A Boring Dystopia

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$1,000 car loan payments are on the rise, stressing household budgets (www.cnn.com)

submitted 1 day ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] booly@sh.itjust.works 1 points 12 hours ago

I wonder how those specific buyers' household incomes are. Part of the "k shaped recovery" from COVID is that some people genuinely are richer than ever.

If 10% of US households make more than $250k/year, and richer households are more likely to buy new cars (and buy them more frequently), it might very well be that the $1000/month payments are being paid by those who can easily afford them, while the $300/month payments are the ones actually causing financial strain on average households.