The most common failures in the 124 rear suspension are:

The torque or thrust arm bushings (the arm that goes forward from the top of the hub carrier). Fairly cheap, simple job.

Sway-Bar link. Fairly cheap and simple also.

The lower wheel carrier bushing. Difficult, takes special tool to R&R the bushing on the car. Inexpensive part though.

Many bushings in the rear suspension, any of them can and do fail, even the subframe bushings can cause some wander and do fail (sooner in warmer climates).

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Gone to the dark side

- Jeff