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It's more that in America, cars are for the most part an inelastic commodity. It's very, very hard to hold a job and maintain your life without a car except in
by fzeroracer 1y ago
It's more that in America, cars are for the most part an inelastic commodity. It's very, very hard to hold a job and maintain your life without a car except in the densest of metro areas. Since the population is still growing, sales of cars keep going up and people get trapped in predatory loans or conditions. Used cars are also harder to find and more expensive, which pushes people into these predatory conditions.
I think it's a really poor indicator for the future. America literally cannot function without cars, and if people cannot afford cars they cannot afford to work.
- apsec112 1y agoA ten year old Honda Fit is like $12K, pretty fuel efficient, and probably reliable and low-maintenance (I owned one until recently). People aren't buying $50,000 new Ford F-150s because they just need a working car to go to work and the grocery store.
- MangoToupe 1y ago> People aren't buying $50,000 new Ford F-150s because they just need a working car to go to work and the grocery store. Let me introduce you to half of my block. And I live in a city with fantastic public transit where you don't even need a car. I see those loan notices in mailboxes....
- ndjeosibfb 1y agoyou’re opening your neighbors’ mailboxes and reading their mail?
- MangoToupe 1y agoNo, I am not.