Ep. 217 - Are We Facing a Credit Crisis or Housing Crisis in 2024?

Why Are Foreclosure Rates at Historic Lows Despite Rising Credit Card Debt?

Quinton Harris analyzes the latest New York Fed report, challenging popular misconceptions about an impending foreclosure crisis. He presents data showing foreclosure rates at historic lows while examining the concerning trends in consumer credit markets, particularly the trillion-dollar credit card debt predominantly affecting the 18-35 age group.

The episode delves into the complex relationship between bankruptcies, foreclosures, and credit scores, offering a comprehensive look at current market health indicators. Quinton provides insights into credit availability trends, which have reached an unprecedented $5 trillion, and discusses Jamie Dimon's warning about potential turbulence in consumer credit markets. He concludes with an interesting observation about Warren Buffett's recent market moves and their potential significance.

​​[00:00] - Introduction and Foreclosure Data Analysis
[04:05] - Credit Card Debt Discussion
[08:17] - Analysis of 90-Day Delinquencies by Loan Type
[11:35] - Market Movers

Key Quotes:

"The amount of credit availability is on credit cards specifically only credit cards is literally cresting the chart at 5 trillion." - Quinton Harris

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