America’s Economic Fault Line

This is simply insane – new car sales among American households making $75k or less have crashed by 30% since 2019. Car prices soared. Incomes didn’t. They can’t afford a new car. But it’s not just the lowest incomes. Those making between $75k and $150k have bought 7% fewer cars than in 2019. This is a lot more than the K-shaped economy and to call it an affordability crisis seriously understates the problem.

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