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.
Depopulation Patterns Get Weird
A recent ranking of “declining” cities heavily features some of the most expensive cities in the country — including New York City and a half-dozen in the San Francisco Bay Area.
California Exodus: Population Drops Below 39 Million
Never mind the 40 million that demographers predicted the Golden State would reach by 2018. The state's population dipped below 39 million to 38.965 million last July, according to Census data released in March, the lowest since 2015.
Chicago to Turn High-Rise Offices into Housing
Four commercial buildings in the Chicago Loop have been approved for redevelopment into housing in a bid to revitalize the city’s downtown post-pandemic.
New Park Opens in the Santa Clarita Valley
The City of Santa Clarita just celebrated the grand opening of its 38th park, the 10.5-acre Skyline Ranch Park.
U.S. Supreme Court: California's Impact Fees May Violate Takings Clause
A California property owner took El Dorado County to state court after paying a traffic impact fee he felt was exorbitant. He lost in trial court, appellate court, and the California Supreme Court denied review. Then the U.S. Supreme Court acted.
How Urban Form Impacts Housing Affordability
The way we design cities affects housing costs differently than you might think.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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.
