Great Recession like 2010 may happen soon: Motor-vehicle lending, subprime lending showing signs of deeper stress

economictimes.indiatimes.com:

US economy could be easily facing financial troubles as the subprime mortgage crisis like the 2000s is repeating itself amid severe recession and inflation fears. The Great Recession that began in the late 2000s due to the collapse of the US housing market, was one of the prime trendsetters of today's housing market conditions.

What is the subprime housing crisis all about.

Many homeowners had taken out subprime mortgages, which had higher interest rates and were riskier than traditional mortgages. When the housing market began to decline, many owner were not able to make their mortgage payments, leading to foreclosures and a decline in the value of mortgage-backed securities.
The Great Recession along this time was the most severe economic downturn since the Great Depression of the 1930s, and now, something similar could be witnessed in 2024 as well, if thing are not set along he right course by the US Federal Reserve much in advance. However, the Great recession was not as long or as deep as the Great Depression, and the economy began to recover in 2010, but the effects of the recession were felt for many years afterward.

Credit challenges intensifying in the US?

Credit challenges in the United States are increasing over time now, ad things which could have been better in recent days, are actually worsening as credit approved in the years of 2022 and 2023 is the source of the stress, suggest reports, and not the current financial year. Therefore, new credit would help in diluting the old track record and clean