More people are three months behind on car payments today than at the height of the Great Recession. That's bad news for the economy.
Heather Long reports: "A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis."
"Economists warn that this is a red flag," adds Long. "Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills."
As the article explains in more detail, car payments are considered a first priority bill, because of their importance in getting to work and other critical places as well as the ability to live in cars if "all else fails."
"Most of the people who are behind on their bills have low credit scores and are under age 30, suggesting young people are having a difficult time paying for their cars and their student loans at the same time," explains Long.
FULL STORY: A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy
Study: Half of Global Commutes Made by Car; Rates Vary Widely
The United States is conspicuously consistent in its high rates of car usage, a new analysis finds.
The Harms of a Car-Centric World
While most of the world’s population doesn’t drive, cars have an outsized negative impact on public health, the environment, and land use.
Watch: The Car-Centric Legal System, Explained
So many subsidies ensure the dominance of the automobile in the daily live of the United States, it's hard to keep track of them all. Law Professor Greg Shill is keeping track, however.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
Can We Please Give Communities the Design They Deserve?
Often an afterthought, graphic design impacts everything from how we navigate a city to how we feel about it. One designer argues: the people deserve better.
The EV “Charging Divide” Plaguing Rural America
With “the deck stacked” against rural areas, will the great electric American road trip ever be a reality?
Judge Halts Brooklyn Bike Lane Removal
Lawyers must prove the city was not acting “arbitrarily, capriciously, and illegally” in ordering the hasty removal.
Engineers Gave America's Roads an Almost Failing Grade — Why Aren't We Fixing Them?
With over a trillion dollars spent on roads that are still falling apart, advocates propose a new “fix it first” framework.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Borough of Carlisle
Smith Gee Studio
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)