What began for many as a way to pay for concert tickets and vacations is becoming an ordinary tool that Gen Z and millennial shoppers use for food, contact lenses and trash bags.
This is yet another massive sign of an oncoming recession in the next 6-12 months. Inverted yield curve, more part time jobs, layoffs, commercial real estate collapse, etc.
In September 2024 student loan payments start back up. They’re semi on pause if you have financial hardship, interest still accrues. 45,000,000 people with student loan debt.
That adds another one to the list. Unfortunately I don’t see a way we avoid a recession into 2025. It’s basically inevitable at this point given the conditions.
October '23 was the official end of the moratorium. I believe unless you were able to prove financial hardship, everyone restarted their payments. However, when those payments did resume, there were immediate defaults.
This is yet another massive sign of an oncoming recession in the next 6-12 months. Inverted yield curve, more part time jobs, layoffs, commercial real estate collapse, etc.
In September 2024 student loan payments start back up. They’re semi on pause if you have financial hardship, interest still accrues. 45,000,000 people with student loan debt.
That adds another one to the list. Unfortunately I don’t see a way we avoid a recession into 2025. It’s basically inevitable at this point given the conditions.
I thought they started already? I’ve been getting statements since October '23
October '23 was the official end of the moratorium. I believe unless you were able to prove financial hardship, everyone restarted their payments. However, when those payments did resume, there were immediate defaults.
Commercial real estate collapse you say? I’m listening…
https://www.businessinsider.com/commercial-real-estate-crash-property-price-drop-defaults-interest-rates-2024-1