Who is right in this debate about the New York Federal Reserve Household Debt and Credit Report?
I recently posted about this report on Wolf Street.^(1) According to the report the percent of balance 90+ days delinquent of auto loans is at an all time high.^(2) The two published variables that are related to the level of 90+ days late delinquencies can be found here as "New (seriously) delinquent balances and transitition rates" and "Percent of balance 90+ days late".^(3)
My comment (you can find my name in the comment section as "Egan") explicitly differentiates between these two variables ("Auto loans’ seriously delinquent rate is at an all time high (balance) although the new seriously delinquent flow has stabilized in the last 2 years."), but the response to my comment seems completely oblivious to the fact of this difference.
Am I the one understanding the methodology correctly and what the data represents correctly or not?