The End is Near! Debtors Have Stopped Paying on their Mobile-Home Loans

People have stopped paying their mobile-home loans, and it’s a warning sign for the economy

  • Delinquencies on mobile-home loans have increased by 2 percentage points over the past year, according to research cited by UBS.
  • The rising delinquency rate, combined with signs of stress in other areas of the consumer-finance market, suggests there’s a two-speed economy.

The mobile-home market is showing signs of stress.

The delinquency rate on mobile-home loans has increased by 200 basis points, or 2 percentage points, over the past year, according to research cited by UBS. The 30-day-plus delinquency level is now about 5%, the highest level since 2005.

The increase in the number of struggling mobile-home borrowers suggests that a large chunk of these people haven’t benefitted from the economic growth of the past few years, despite the low unemployment level.

“We interpret this data to mean that these individuals have not largely benefitted from these macro-dynamics, and may also be disproportionately exposed to industries that have experienced compression — rather than expansion — in the current economic conditions, such as retail or some areas of energy extraction,” UBS said.

More here…

~

4closureFraud.org

 

Comments
3 Responses to “The End is Near! Debtors Have Stopped Paying on their Mobile-Home Loans”
  1. PenMyPaper says:

    The two speed economy is a growing source of angst in the country. It reflects great macroeconomic problems that get waylaid to the poor individual consumer. Mobile phones are probably the mere start of the receding fortunes for people like us. We need the government and the financial bodies to step up.

  2. They are basing this on the false assumption that unemployment is low — it isn’t. the statistics put out by the government are always very low-ball estimates. In other words they lie. No administration wants to reveal the true facts. They will always tell you how many jobs were created, but they NEVER tell you how many jobs were lost or those who have exhausted their unemployment benefits and have fallen into the black hole where statistics never emerge.

  3. Bobbi Swann says:

    I’m sorry but this was posted with information furnished by UBS – a banking industry firm? The same one that deals only in high net-worth individuals for wealth management? If so, they are more interested in what the stock market is doing and news like this (whether true or fabricated) can swing the market in a downward motion. Great time to buy stock, huh?

Leave a Reply