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Message
re: What are ‘insane’ prices?
Posted on 6/15/22 at 4:41 pm to bod312
Posted on 6/15/22 at 4:41 pm to bod312
quote:
If it used 2022 wages how would that impact the ratio?
What I am saying is, let’s assume the median household has increased from $67k to $88k, the ratio would still be at 6+
I’m assuming current median household income is nowhere near $88k. Maybe I am wrong..
ETA: I don’t know how the chart reconciles the data once they have data for both….
This post was edited on 6/15/22 at 4:43 pm
0
Posted on 6/15/22 at 4:49 pm to weagle99
Large Folgers Coffee at Sam's...
2 weeks ago: $8.98.
Today: $12.98.
I realize the coffee market is already volatile, but that's ridiculous.
ETA: Forgot... Egg McMuffin: $5.14
2 weeks ago: $8.98.
Today: $12.98.
I realize the coffee market is already volatile, but that's ridiculous.
ETA: Forgot... Egg McMuffin: $5.14
This post was edited on 6/15/22 at 4:50 pm
Posted on 6/15/22 at 5:17 pm to Dawgfanman
quote:
Given the inability of employers to fill jobs at current pay levels, whose to say the median income doesn’t rise to make this ratio closer to what it had been?
I am. Demand is in early stages of drying up and job cuts are and will continue to be next. Median income will not rise YOY from June 2022-2023. Source: Me!
This post was edited on 6/15/22 at 5:19 pm
Posted on 6/15/22 at 5:21 pm to bod312
quote:
I don't know why the manufacturers have not updated the MSRPs more. My guess would be that the FMV is very volatile right now and probably fluctuates a lot from location to location. The MSRP is a national value and they probably don't want to the reduce the MSRP whenever the FMV drops more inline with historical values/expectations assuming the supply chain issues get resolved.
I agree that FMV varies from area to area. But when dealers are identified as being too far out over their skis with regard to pricing, they should probably weigh the desire to make a fast (extra) buck versus their long term prospects and position with their franchisors.
quote:
Ford’s chief executive, Jim Farley, warned dealers that they could be pushed to the rear of the line for delivery of new models if they persist in playing fast and loose with the MSRP.
“We have very good knowledge of who they are,” Farley told financial analysts while unveiling the company’s latest quarterly results.
quote:
GM, meanwhile, told its dealers that it will clamp down on “a small minority of bad actors” hitting customers with prices “far in excess” of what’s on the sticker. It too said deliveries of new models could be withheld if things didn’t change.
So if a dealership doesn’t care whether or not they get pick of the litter future offerings, or are limited on how many hot sellers they get down the road, they can go for the quick buck now and suffer the consequences in the future. And it does happen. A dealership local to me used to get limited production Corvettes and also sold Cadillacs. Now the only Vettes they have on the lot are used ones from the previous generation and the Caddy franchise was taken from them by GM several years ago. They came close to losing the Chevy franchise too, if not for our local (crooked) House of Representatives (and bribes) member stepping in to lobby on their behalf.
I’m a free market thinker for the most part. But with respect to pricing, one has to consider the current circumstances versus future prospects. Would I double my rents if every other landlord in the area was doing it? Probably. That would be a clear indication of an adjustment in FMV. But I wouldn’t want to be the lone chicken standing in the middle of a busy highway (say if a tornado knocked down some apartment buildings in my area) doing it.
Posted on 6/15/22 at 10:09 pm to iAmBatman
quote:
What makes it a 400k house vs a 900k house. How do you know which number is right?
I'm starting to think you've never bought a house before.
You know immediately when you step into a high-end 1 million dollar home--you can feel it when you drive up through the neighborhood.
Posted on 6/15/22 at 10:10 pm to The_Duke
quote:
I'm starting to think you've never bought a house before.
I’m starting to think you don’t understand the concept of markets.
This post was edited on 6/15/22 at 10:16 pm
Posted on 6/15/22 at 10:39 pm to iAmBatman
quote:
I’m starting to think you don’t understand the concept of markets.
they're selling 400k cookie-cutter houses in Denham Springs
Markets my arse
Posted on 6/15/22 at 10:46 pm to The_Duke
quote:
they're selling 400k cookie-cutter houses in Denham Springs Markets my arse
Are people buying them?
Posted on 6/15/22 at 11:01 pm to iAmBatman
quote:
Are people buying them?
It's called "average selling price" for a reason.
Not sure how you don't see the issue here
Avg home price in:
2020 360k
2022 570k
What changed?
Posted on 6/15/22 at 11:02 pm to The_Duke
quote:
Not sure how you don't see the issue here
I don’t have any issue, simply pointing out that prices are what market participants agree to.
quote:
What changed?
Obviously you’re smarter than me so why don’t you explain
This post was edited on 6/15/22 at 11:04 pm
Posted on 6/15/22 at 11:25 pm to iAmBatman
quote:
I don’t have any issue, simply pointing out that prices are what market participants agree to.
No one disagrees with that---ppl can be idiots and overpay for stuff all the time.
There are seminars and books built on buyer remorse and FOMO buying. We're seeing it now with the idiots buying crypto shite coins
Posted on 6/15/22 at 11:35 pm to iAmBatman
It's like pornograghy. Can't define it, but know it when I see it.
Same as "insanity".
Same as "insanity".
Posted on 6/15/22 at 11:36 pm to iAmBatman
county tax office websites typically have past tax values.
Posted on 6/16/22 at 7:31 am to Jag_Warrior
quote:
they should probably weigh the desire to make a fast (extra) buck versus their long term prospects and position with their franchisors.
My question is why would the manufacturers try to tell the dealerships how to run their business? If it can negatively impact the overall business of the manufacturer than sure but why does charging what people are willing to pay equate to negative publicity for the manufacturer? If the manufacturer doesn't want dealerships to have to mark up the vehicles to reach the FMV then maybe they should increase supply (I know they can't right now but theoretically they could build their own chips if they wanted, not a good idea just saying).
At the same time why doesn't the manufacturers come down on dealers when they sell vehicles for $10k+ below the MSRP?
quote:
I’m a free market thinker for the most part. But with respect to pricing, one has to consider the current circumstances versus future prospects.
Sure they have to consider making an extra buck now versus potentially making a life long customer (of a product that people rarely buy as we don't buy new cars monthly or anything). The issue is that is not what is happening. The manufacturers are threatening them not the market.
quote:
Would I double my rents if every other landlord in the area was doing it? Probably. That would be a clear indication of an adjustment in FMV. But I wouldn’t want to be the lone chicken standing in the middle of a busy highway
Exactly and most dealerships are charging over MSRP and realistically the ones that aren't, could. Anyone complaining about the price of cars must not be in favor of a free market. The bigger issue is going after barriers to increase the supply to meet the demand. We should be outraged by any barriers there not people selling products for FMV. Clearly $1,000s over MSRP is FMV as that is what the majority of people are paying right now and of course that varies by what specific vehicle you are buying.
I find it very funny how many people seem to be against a free market right now.
Posted on 6/16/22 at 8:06 am to AubieinNC2009
quote:
county tax office websites typically have past tax values.
Prior assed tax value is not an accurate representation of value for a home.
Do you really think some underpaid, parish/county tax assessor is the person that knows true value? If so, I've got a bridge to sell you.
Posted on 6/16/22 at 8:08 am to weagle99
Insane:
$130 to fill my truck up
From $0.09/kw-hr to fricking $0.22/kw-hr
$130 to fill my truck up
From $0.09/kw-hr to fricking $0.22/kw-hr
Posted on 6/16/22 at 8:49 am to thegreatboudini
quote:I'm wondering if local dealers have a deal with the factory where they can input their own "Market Adjustment" before it leaves the factory.... and the factory prints their customized sticker....
Taking a pickup truck that has a sticker of 71k and adding 69k to the price for a grand total of 140k
Posted on 6/16/22 at 8:55 am to REB BEER
quote:
Over $100 bucks to fill up my truck seems insane.
$150 to fill up my truck with 87 yesterday.
It makes me so mad.
This post was edited on 6/16/22 at 9:40 am
Posted on 6/16/22 at 9:12 am to grizzlylongcut
quote:
It makes me so mad.
what are you going to do about it Willie?
Posted on 6/16/22 at 1:40 pm to bod312
quote:
My question is why would the manufacturers try to tell the dealerships how to run their business
It’s only “their business” at the pleasure of the franchisor. Violation of the franchise agreement can mean penalties or even a loss of the franchise, as I explained earlier. Whether it’s a McDonald’s restaurant or a Chevrolet dealership, one must read and understand the franchise agreement before signing it. If you don’t like the terms in the automobile dealer franchise agreement, but still want to sell cars, you can always sell used cars and conduct your business however you choose.
quote:
Anyone complaining about the price of cars must not be in favor of a free market.
The dealers absolutely can charge whatever they choose to… but there may be consequences from their franchisors (with whom they willingly signed franchise agreements). And one could easily counter your point by saying that GM, Ford, etc. should be free to treat their franchisees however they choose per the franchise agreement and state laws. If you’re truly in favor of a free market, it works across the board… right?
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