Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

US car repossessions surge as more Americans default on auto loans

theguardian.com

Post reply on HN
Print view View original

201–210 of 252 posts

Re: US car repossessions surge as more Americans default on auto loans

#201

Post by throwawaypath »

elmerfud wrote: post #25

One thing the article doesn't mention is deportees. The administration always says illegal immigrants but when you look the vast majority that are being deported are documented people here under some allowed process, they just haven't been granted a green card yet. Documented immigrants have work permits, social security cards, all the thing to find housing, get jobs, engage in banking etc... When they're picked up a…

>One thing the article doesn't mention is deportees. The administration always says illegal immigrants but when you look the vast majority that are being deported are documented people here under some allowed process, they just haven't been granted a green card yet.

Documented != legal, one can be documented and an illegal immigrant. If you have a deportation order with a final date in the past, you are a documented illegal immigrant. If you're unlawfully in the US due to overstaying your visa, you are a documented illegal immigrant. Practically every case in the past year has proven out to be the person deported was illegal.

>Documented immigrants have work permits, social security cards, all the thing to find housing, get jobs, engage in banking etc...

Yet they can still be illegal immigrants.

>do you think they're going to care about their car loan, home mortgage or credit card debt?

The vast majority of illegal immigrants being deported have none of those things. All cash.

>Who pays for all that debt, in excess of $20,000 for everything. She never will, she goes to another country

Car gets repossessed, house gets foreclosed. The majority have miniscule or nonexistent credit card debt. Less than a rounding error for the economy as a whole.

Their deportation will increase housing supply, which reduces rent and home prices though!

>We were lied to about the number of illegals. ... All because the lies saying they were illegal.

No we weren't. They are illegal.

Re: US car repossessions surge as more Americans default on auto loans

#202

Post by surgical_fire »

ramesh31 wrote: post #52
JohnFen wrote: post #37

Earlier quoted context omitted.

Historically, this has ultimately led to revolutions.

>Historically, this has ultimately led to revolutions. Which is why they've spent the last 50 years pitting the lower classes against themselves with meaningless culture wars. In a world with F-16s, Apache helicopters, and panopticon digital surveillance, there will never be armed revolution again (nor would anyone actually want that); the only option is nonviolent resistance. But it'll never happen in the US since w…

My understanding is that historically, popular uprisings only succeed when part of the established power allows it to happen or tags along for their own reasons. This includes the military.

I would be happy to be pointed at some exception to this.

Re: US car repossessions surge as more Americans default on auto loans

#203

Post by potato3732842 »

watwut wrote: post #199
potato3732842 wrote: post #141

Earlier quoted context omitted.

>America literally the country with longest average and median commutes to work? Like, that was always an American thing - the long commute. Miles? probably. Time, lower than a lot of europe IIRC.

The statistics and analysis I have seen were literally about time, not miles. It was literally "americans spend more time commuting".

I hate being a filthy linkposter but I think you're wrong

https://transportgeography.org/contents/chapter8/urban-trans...

I just google imaged it and all the graphs say about the same thing.

Re: US car repossessions surge as more Americans default on auto loans

#204

Post by elmerfud »

throwawaypath wrote: post #201
elmerfud wrote: post #25

One thing the article doesn't mention is deportees. The administration always says illegal immigrants but when you look the vast majority that are being deported are documented people here under some allowed process, they just haven't been granted a green card yet. Documented immigrants have work permits, social security cards, all the thing to find housing, get jobs, engage in banking etc... When they're picked up a…

>One thing the article doesn't mention is deportees. The administration always says illegal immigrants but when you look the vast majority that are being deported are documented people here under some allowed process, they just haven't been granted a green card yet. Documented != legal, one can be documented and an illegal immigrant. If you have a deportation order with a final date in the past, you are a documented…

You are factually incorrect. Documented means that they are legally allowed to be in the country which is why they have received work permits and that they have received social security numbers. They have a legal status which is why they are documented as being here. To say that they dealt in all cash is a factual lie. Where are you getting your data. I'm getting my data first hand from someone who was picked up and also had first hand accounts of hundreds of people in detention. All with work permits all with social security cards all who had legal jobs at the time of their detention. All of them were engaging in the normal commerce of a USA citizen which is to have a debt load and a credit rating. Do you think they had cash to pay for those vehicles? Do you think they had cash to pay for those houses? Do you think apartments don't run credit ratings? You are absolutely foolish to think that this is some massive 30 million people with a cash based underground. Modern banking doesn't work that way, almost no jobs pay that way. No jobs that you're going to get with a work permit and a social security card which is the vast majority of jobs. You think these people just pick your lettuce in the field. That's absolutely insane you really need to educate yourself because you have believed the lies that were told.

The law does not consider them illegal aliens. ICE does not classify them as illegal aliens. Only red-headed political ideologues that are looking for a boogeyman consider them illegal aliens.

You can say that it is a miniscule number of them having credit and debt but you need some evidence to back up your claims. Increasing housing supply at the cost of a greater burden for everyone else isn't a good way to do it. Because these were functioning taxpayer members of society. Then they became burdens to society because they were housed in detention facilities at an extraordinary cost along with the money lost for the proper eviction procedures and debt recovery procedures and everything else.

It is absolutely foolish to take people who were following the legal process and we're legally documented as being here putting them into tension centers causing them to default on their mortgages or their leases. Causing them to default on their car loans and their credit card debt. For you to act like it's a good thing is absolutely insane.

Because you believed the lies that these were illegal criminals that weren't allowed to be here. Go and read the lies of the news media. That's how it was presented. It only takes a small bit of logic to say if they were actually criminals that were not allowed to be here then they wouldn't know where they are. Because there would be no documentation. The fact that they could go get them so quickly was because they were allowed to be here and they were arbitrarily revoking parole statuses and other statuses of people that were granted permission to be here following the processes laid out in the law.

Now you will bear the financial burden for it. Because fools like you think that they were criminal illegal aliens. When they were not they were legal aliens. I highly suggest you go and review the actual many immigration statuses that are granted. Because there are many statuses where you are legally allowed to be in this country as an alien without being granted a visa. Once you have reviewed those I will await your apology.

Re: US car repossessions surge as more Americans default on auto loans

#205

Post by ponector »

dinobones wrote: post #31
harmmonica wrote: post #15

As if I need to make another comment about a, or multiple bubbles, but something has to give and here it's of course the consumer. New and used car prices are at all-time highs (nominal it sounds like, but tell that to someone whose wages haven't kept pace (i.e., almost everyone)). Housing prices are at all-time highs (in terms of price:income so no qualifier needed there). Tariffs are not being 100% eaten by the pro…

On paper, nothing will happen. The wealthy in America will continue to get wealthier. Real estate and stocks will soar in value. In reality, the dollar's true value will plummet. The FED is starting to lower interest rates again. We are likely going to undergo brutal inflation. Crashing the economy is obviously very politically unpopular. The left/right will do whatever they can to keep this charade up, even if it me…

>> In reality, the dollar's true value will plummet

But it's good. There is no way to bring back manufacturing jobs to the US while dollar is strong.

Also high inflation may make housing more affordable.

Re: US car repossessions surge as more Americans default on auto loans

#206

Post by rayiner »

dijit wrote: post #46
rayiner wrote: post #30

Earlier quoted context omitted.

This is an extremely privileged viewpoint. Even in Tokyo, people in the bottom half of the income distribution do not live close enough to popular transit lines to be as mobile as someone with a beater car in Dallas. They spend a lot more time commuting (and they can’t “just do some work on the train” because they have real jobs). Even in Tokyo, their commutes are crowded, they’re subject to the weather. Being tied t…

It's only privileged because I'm living in a city that has actively prioritised other modes of transport. I invite you to compare Orlando and Malmo. If you have the opportunity to visit both, I would recommend it. They have the same population size (actually, Malmo has more people in it, but, close enough) yet in one it's impossible to get across the street without a car, even to go to the grocery store, and the othe…

Why are you comparing the cities based on whether you can get around “without a car?” In America, even the vast majority of the poorest people have a car. 96% of occupied housing units in Osceola County (where Orlando sits) have a car. American cities are optimized for that.

It’s almost certainly more convenient to get around Orlando by driving (as long as you aren’t going to Disney) than taking transit in Malmo. There is no city in the world where transit is more convenient and flexible than driving. I visit Tokyo once or twice a year, and even in Tokyo it’s usually more convenient to take an Uber than to take the train. And you’re not going to do better than Tokyo in terms of transit.

You can see this in the statistics. The average commute time of someone in the greater Tokyo area is 1 hour and 40 minutes round trip, or about 50 minutes one way: https://resources.realestate.co.jp/living/average-work-commu.... The average commute time for someone in Dallas County is under 30 minutes one way: https://fred.stlouisfed.org/series/B080ACS048113. And the American commute is by yourself in a climate controlled car, instead of a crowded (even if clean and punctual) train.

Re: US car repossessions surge as more Americans default on auto loans

#207

Post by dijit »

rayiner wrote: post #206
dijit wrote: post #46

Earlier quoted context omitted.

It's only privileged because I'm living in a city that has actively prioritised other modes of transport. I invite you to compare Orlando and Malmo. If you have the opportunity to visit both, I would recommend it. They have the same population size (actually, Malmo has more people in it, but, close enough) yet in one it's impossible to get across the street without a car, even to go to the grocery store, and the othe…

Why are you comparing the cities based on whether you can get around “without a car?” In America, even the vast majority of the poorest people have a car. 96% of occupied housing units in Osceola County (where Orlando sits) have a car. American cities are optimized for that. It’s almost certainly more convenient to get around Orlando by driving (as long as you aren’t going to Disney) than taking transit in Malmo. The…

The reason I’m talking about my city in particular is because everybody (even the poorest) can get around without a car and I’m not talking about just public transport.

It’s very liberating, even for children to be able to get around if not everything requires the use of a car.

I am aware that Orlando has optimised itself in a certain way, which makes it impossible to be any other way. That means being mildly convenient requires a complete overhaul of the whole system just for a small select group of people which is obviously unfavourable.

One of the major benefits of not being car dependent in particular is that there are more options not just public transport, you can get around by car- but there is also cycling, E-scooters, walking is more convenient, and of course there are buses trains and taxis. There’s even a bike rental scheme which covers the entire city and is so cheap as to be effectively free ($20 per year). With that in mind I find the argumentation that poor people have a worse time to be disingenuous- owning a car is the second largest expense most people have.

Malmo by the way is one of the poorest cities of the large cities in Sweden. I don’t know what the GDP per capita is compared to Orlando, but I’m not going to think that it’s much different to be perfectly honest with you.

Re: US car repossessions surge as more Americans default on auto loans

#208

Post by NekkoDroid »

potato3732842 wrote: post #203
watwut wrote: post #199

Earlier quoted context omitted.

The statistics and analysis I have seen were literally about time, not miles. It was literally "americans spend more time commuting".

I hate being a filthy linkposter but I think you're wrong https://transportgeography.org/contents/chapter8/urban-trans... I just google imaged it and all the graphs say about the same thing.

From my understanding this seems to include all forms of transportation (which has value on its own I guess), but it would be more interesting to see car only.

Re: US car repossessions surge as more Americans default on auto loans

#209

Post by eecc »

ponector wrote: post #205
dinobones wrote: post #31

Earlier quoted context omitted.

On paper, nothing will happen. The wealthy in America will continue to get wealthier. Real estate and stocks will soar in value. In reality, the dollar's true value will plummet. The FED is starting to lower interest rates again. We are likely going to undergo brutal inflation. Crashing the economy is obviously very politically unpopular. The left/right will do whatever they can to keep this charade up, even if it me…

>> In reality, the dollar's true value will plummet But it's good. There is no way to bring back manufacturing jobs to the US while dollar is strong. Also high inflation may make housing more affordable.

If manufacturing is to return to the USA, it will be as fully automated as technically possible. So forget about jobs, there won't remotely be as many as needed to "reboot the working class"

Re: US car repossessions surge as more Americans default on auto loans

#210

Post by Sohcahtoa82 »

jmathai wrote: post #65
Terr_ wrote: post #33

Earlier quoted context omitted.

Even as someone who barely cooks, I can't fathom the apparent popularity of DoorDash etc. versus the extra cost you have to pay.

My son wanted to DoorDash a burrito from chipotle. I told him to look at the final price and compare it to chipotles website. The $8 burrito is listed on doordash’s website for $11 + a delivery fee they were waiving for a first order (not sure what it would have been).

Delivery fees vary from $4-10, plus tip.

And while tipping is technically optional, it's de facto required. The driver will see the total pay for a delivery before they accept it, and if it's too low, they'll reject it, and DoorDash will offer the delivery to another driver. If you don't tip, then your delivery will be rejected until it reaches some driver that's gotten desperate. By that time, your food will likely have been already made and sitting and waiting for 30 minutes.

Post reply on HN