We knew it was coming...

JimK-NY wrote:

PButler96 wrote:

JimK-NY wrote:

PButler96 wrote:

Plenty of folks have started tapping into savings to maintain their standard of living, and even more have started to access credit to do the same, both are unsustainable and will run out, and the credit option is a double whammy with rising interest rates.

Maybe your predictions will come true eventually, but for now credit card debt is considerably behind where it was before the start of Covid.

Eventually seems to be now. Imagine that.

Household credit card debt surges in second quarter, highest jump in over 20 years

Sure that sort of click bait catches attention, but the facts are less exciting. Revolving consumer debt is up because consumers are spending at high rates. Defaulting is still low. Non-revolving debt has only increased about 5% in the past year. No surprises because debt costs such as mortgages and car loans have increased substantially.

When it comes to RV sales some decrease in sales can be expected and manufacturers are watching this closely and will adjust production and costs accordingly. RV sales were crazy high during Covid and are predicted to continue at levels higher than pre-Covid. Again a decrease can be expected because people are able to return to air travel, vacations, cruises and other opportunities that were restricted or not available during Covid.