Want to know the state of the economy? Just ask a repo man.
Repossession specialists, better known as “repo men,” are suffering a nationwide decline in business. There were about 1.3 million auto repossessions in 2012, down from 1.9 million at the height of the recession in 2009, according to Tom Webb, chief economist for Manheim Auctions. Data from Experian Automotive shows a one-third drop in repossessions over the same time period.
As the economy recovers, more Americans have been able to keep up with their car payments. The percentage of Americans more than 90 days late on a car loan declined to 4% in the fourth quarter of 2012, down from 5.3% in the fourth quarter of 2010
Sounds good to me.