Today's headline: Subprime car loans hit record high defaults 8.8%

My interpretation – Renters are having trouble paying their car payments which means trouble paying their rent too.

Inflation and pandemic style cutbacks are making it harder for people to keep up.

Subprime loans are not just for low income people. Even people with fancy houses but lousy credit need subprime loans.

Time to stay right on top of rent collection. A new season is upon us.

It's already here in Los Angeles where a landlord still can't evict for non-payment for rent until April 2023. And if we threaten a tenant with eviction, it's a $20,000 fine. Soon landlords won't be able to use credit and background check on applicants. We can't turn down Section 8 applicants even if they are drunks, criminals and other negative actions.

you guys are a bunch of weirdos getting up at 2 AM to post. LOL. I've been up since 2:15 AM

They make energy drink for those 2 AM mornings.

I am with you Brad. Two years ago the answer was print up and spend lots of money. And in my 41 unit back then, the new larger TV boxes were a weekly event in the dumpster. At least they will still have that.

With inflation beating up Main Street so badly - actually now would have been a better time for the government to step in and assist those who need it. But hind sight is always 20/20

Student loan default rates would also be sky high right now, except the B-admin keeps kicking the can down the road and promising some degree of loan "forgiveness" while at the same time allowing folks not to pay.

Makes me wonder why anyone should ever work or pay off a student loan? Just whine long enough and the Govt will make you not have to pay. The folks who did work hard and paid their loans should be upset: why bother?

Creative vote buying at it's finest!

One thing I've learned is I can't predict the future. Today's awesome investment can be torpedoed with one Govt policy change. Like your Roth IRA? All they have to do with a pen-stroke of "fairness" is wipe out that law and boom, you're now paying taxes after all.

Like your investment property? One stroke of a pen and tenants don't have to pay rent because....the dread Pirate Covid has set sail again. Oh yeah, and if you live in California apparently your freedom of speech to "threaten" eviction is also now a fineable offense. How/Why CA land lords stay put is beyond me.

I can only do what makes sense today, and when it changes, react. When they say, "You can't do A" I do B. When they say, "You can't do B", I do C. The only time Govt bureaucracy is a blessing is that they move so slowly they usually can't keep up.

student loans are a pet peeve of mine. Why do people "need" to go to school when they can't afford it unless they are going into a career with a very good chance of immediate job placement at an income level to support their day to day living, plus begin to pay those loans off. To get a degree with loans when there is not a good chance of a job out there with a salary able to repay the loans on a set schedule within a reasonable time frame should be a part of the equation. I have no idea what the nationwide student loan debt numbers are but I assume they are HUGE. Go to school part time, work fulltime. It takes a bit longer but seems to be a better way ... unless the government doesn't make you repay those loans. I believe government backed and private loans are handled differently.

Right Nicole. The student loan forgiveness issue makes my blood boil. Lots of people didn't go to college because they couldn't afford it. But gee they could have gone after all and gotten their loans forgiven.

"Best part" of the student loan "crisis?" They keep MAKING those dumb loans!

If they do any loan forgiveness now, what should we expect to happen in the future? Why would anyone ever pay back a loan? And at that point, is it really a loan or a new branch of Govt sponsored gimmies?

My thought is they're gearing up to make college an entitlement like so many other too-expensive entitlements. So....prepare for further deflation of the value of a college degree. They're already pretty deflated as is.

Note: I do not equate the degree with the actual knowledge gained. Someone in a hard science (biology, chemistry, physics) or engineering can still do very well. But the old sheep skin itself is pretty worthless.

Can't wait to see what kinds of degrees we'll see when they're all "guaranteed!" Underwater Basket Weaving may become a reality.

REgarding students that never finish: too true. My frosh year 1st semester the dorm was packed. 2nd semester we were down about 30%. By 4th quarter, maybe half remained. I had no complaints. Quieter.

Sorry to hear a teacher’s student

Thank you for the heads up.

Be sure your application asks for student loans,

AND you reduce their affordability by their student loan.

AND keep a close eye on your rent collection. This is ABSOLUTELY the wrong time to let anyone slide on payments. They are already behind on their car payments which is MORE important to them than rent.

About student loan debt...

Put both my kids thru college, four year degrees, and they had no debt. Not because I was made of money but because they were creative.

There are all kinds of grants and hand outs for those that want to put in the time. My oldest actually made money her first year of college.

They have both gone on and gotten higher degrees, again with no student loans. Youngest has a masters and oldest just started for a masters.

Both are teachers.

Rarely do I say I wish we had got them loaned up so they wouldn't have to pay it off. If I say it I only do so as a joke. I am proud of their accomplishments and the fact that they didn't live off the hind teat of the government.

They are not very happy about their taxes potentially paying for other peoples student loans.