Quote:
Originally Posted by spence
Wait, there are incentives to help people buy cars (i.e. more new cars sold) and the rate of repossession goes up?
This is Earth shattering analysis.
So what you're really saying is that the cash for clunkers program benefited not only the consumer and auto dealer...but the repo industry as well!
Sounds like a hat trick.
-spence
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Why would the amount of cars sold affect the "rate"???
The rate should remain flat regardless of the volume of cars sold. What this tells us is that more cars were sold to people that cant afford them. Which, if you remember, buying what you cannot afford is what caused the credit crisis.
so once again, help the failures, punish the successful
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