I really disagree that the economy is soaring. I'd call it a crawl. Did you look at GDP Q1 2017? 0.7%! That's the slowest growth in 3 years. The Fed predicted 3.5% GDP and it was 0.7%....ooops. I don't believe it's tanking, but I don't think it's ever going to reach Trumps 4% he is promising. Even 2% GDP is pretty slow growth. Unemployment numbers are low at 4.5% but those numbers are, and can, always fudged to make us feel better about things.
As for Auto loans, this will destruct I believe at some point. These loans are packaged up and sold to wall street just like sub prime mortgages are. When you think about it, more people own cars than houses. I think only 8% of auto loan applicants incomes were verified last year.
The way I look at this, (this being a real estate blog) is that if student loan defaults and auto loan defaults create horrible credit customers, home ownership will be down. A great time to be a landlord! Job growth is steady, but lenders will not lend to people with bad credit so they'll be forced to rent...just my opinion.
