What numbers do " high rate " actually entail
I have seen figures that some 50 + % of people applying for Home Loans are rejected in the 3M value and less sector.
This being the largest sector of the Housing Market, there is trouble ahead
Also I seen published that some 250,000 + vehicles were repoed last year and the number is projected to be even worse this year.
And lets not forget, all these projections and numbers re bae on then Date of Financial Year End( End Sept ) last year.
This Trian Wreck has had another 5 full Months to gather speed , so the Debt to GDP could easily be in excess of 92 % of GDP now, and the repos and NPL could be through the roof.
There is also very little or no mention of " Special Mention Loans " - those that are over due by 30 - 90 Days in these reports, and these Loans are also starting to soar