- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: There has to be a correction in the housing and vehicle market at some point, right?
Posted on 7/11/23 at 8:24 am to RoosterCogburn585
Posted on 7/11/23 at 8:24 am to RoosterCogburn585
As far as vehicles that are gasoline only, not likely. The no more gasoline engines mandate is going to prevent investment in new production and the production that was lost from Covid shutdowns and supply issues will never be replaced but demand is still strong and Used market is still strong. There are starting to be some dealer incentives showing up, but still going to pay close to sticker. Was looking at a truck yesterday and financing is 8.99% and these are still moving. I have a 2005 and have decided that now until end of year is my best time to buy
0
Posted on 7/11/23 at 8:26 am to RoosterCogburn585
Something may be happening in the vehicle market. I've gotten three calls over the past two weeks from salesmen I've dealt with over the years asking me to come in to look at new inventory.
Posted on 7/11/23 at 8:29 am to tiggerthetooth
quote:
They want to systemically make it really difficult to purchase vehicles and homes going forward.
Serious question: Who is “They”?
Posted on 7/11/23 at 8:32 am to RoosterCogburn585
I think there will be a soft correction. Unless we have a mortgage crisis like we did in 08-09, I don't see people who can still afford their houses selling at a loss. They will probably hang on to them and postpone moving/upgrading until they can at least get what they paid for it.
My neighborhood in South Austin has 6-7 houses on the market right now when we used to only have 1-2, they aren't selling though because owners don't want to drop the prices.
Vehicles and to an even greater extent, recreational toys are gonna get decimated first. The boating pages I'm on have people trying to sell at the inflated prices they paid during covid and nothing is moving. Wouldn't be surprised to see a lot of people upside down on those $200k wake boats.
My neighborhood in South Austin has 6-7 houses on the market right now when we used to only have 1-2, they aren't selling though because owners don't want to drop the prices.
Vehicles and to an even greater extent, recreational toys are gonna get decimated first. The boating pages I'm on have people trying to sell at the inflated prices they paid during covid and nothing is moving. Wouldn't be surprised to see a lot of people upside down on those $200k wake boats.
Posted on 7/11/23 at 8:35 am to RoosterCogburn585
Vehicles maybe. I’m waiting for that one.
Houses, prob not. They’ll stagnate, but hold their value for the most part. Just a couple of years ago people were getting 2.5-3% rates. They tend to be a bullet proof investment.
Houses, prob not. They’ll stagnate, but hold their value for the most part. Just a couple of years ago people were getting 2.5-3% rates. They tend to be a bullet proof investment.
This post was edited on 7/11/23 at 8:40 am
Posted on 7/11/23 at 8:38 am to bird35
quote:
finally broke and bought a 4 year old used Corolla with 38,000 miles for $18,000.
What’s sad is that I look at that as a good deal nowadays.
I tried the wait game and ended up with a 2019 Honda Civic with 6k miles for $23k. That was August 2022.
Posted on 7/11/23 at 8:39 am to RoosterCogburn585
I think 5-7 years for housing and 1-2 years for vehicles. Housing takes longer to correct.
Student loans coming online again alone will cause vehicle market to flip dramatically, which is pitiful.
Student loans coming online again alone will cause vehicle market to flip dramatically, which is pitiful.
Posted on 7/11/23 at 8:40 am to GetCocky11
quote:
Dude, just work harder and it'll happen for you. It takes grit and determination.
The typical try harder speech from the OT.
Posted on 7/11/23 at 8:52 am to AUFANATL
quote:
What we need to do is prevent cash rich institutional investors and hedge funds from sweeping in to buy it all as part of a policy to turn the American middle class into perpetual renters and corporate sharecroppers.
You'll own nothing and be happy!
The WEF vision is basically Mr. Potter's .
Posted on 7/11/23 at 8:55 am to RoosterCogburn585
as for vehicles, if you finance with the dealership you can find a decent interest rate.... but the prices are astronomical. My 2016 F150 would have cost me like 20k more than it did then
Posted on 7/11/23 at 8:57 am to The Eric
Yep, automakers are starting to offer special finance rates to move new cars.
Posted on 7/11/23 at 8:58 am to RoosterCogburn585
quote:
There has to be a correction in the housing . . . market at some point, right?
There has to be?
Nah. Nothing has to happen. You sound entitled.
Posted on 7/11/23 at 9:03 am to Zaqwert
quote:
You'll own nothing and be happy!
It seems like the problem is too many people own too much, which has helped cause inflation.
Posted on 7/11/23 at 9:06 am to RoosterCogburn585
Ive noticed car lots are more full and they are starting to advertise $5000 off half ton trucks
Not the $10000 off you were getting 5 years ago but dropping
Not the $10000 off you were getting 5 years ago but dropping
This post was edited on 7/11/23 at 9:06 am
Posted on 7/11/23 at 9:13 am to RoosterCogburn585
Numbers would suggest that it’s already starting. Vehicle prices are falling most since 2020. As someone mentioned above, there seems to be a bubble in AirB&B rentals. Travel is slowing as savings dry up.
There are factors that will continue to prop up housing prices, but the falls are going to come … slowly.
Also, the biggest drops are occurring in the West. Many people are resettling to the Sun Belt. Places like SC, GA, TN, and FL may not see any meaningful price decreases.
There are factors that will continue to prop up housing prices, but the falls are going to come … slowly.
Also, the biggest drops are occurring in the West. Many people are resettling to the Sun Belt. Places like SC, GA, TN, and FL may not see any meaningful price decreases.
Posted on 7/11/23 at 9:13 am to BestBanker
quote:
Don't expect it for housing. People refied to 2-3% mortgages and aren't selling those houses for a long time. People aren't selling a 3% mortgage to go to a 7% mortgage. There's not enough inventory of new houses and won't be for years. High borrowing rates and higher costs of construction will keep things steady at this pace. Imho
I will be. Going from 2.6% to somewhere in the 7% range.
fricking makes my heart hurt thinking about that stupid shite.
Posted on 7/11/23 at 9:16 am to BestBanker
quote:
Don't expect it for housing. People refied to 2-3% mortgages and aren't selling those houses for a long time. People aren't selling a 3% mortgage to go to a 7% mortgage.
There's not enough inventory of new houses and won't be for years. High borrowing rates and higher costs of construction will keep things steady at this pace. Imho
This is true and why I think we won't see a housing correction for 5-7 years.
Boomers dying, interest rates normalizing, AirBnb collapsing, student loans coming back online, etc. All things mentioned in this thread, but it will take some time.
ETA:
And we desperately need legislation in state and local governments restricting corporate entities from owning too many single family homes. They are killing the American dream.
This post was edited on 7/11/23 at 9:17 am
Posted on 7/11/23 at 9:19 am to Cosmo
quote:
Ive noticed car lots are more full and they are starting to advertise $5000 off half ton trucks
Not the $10000 off you were getting 5 years ago but dropping
2016: Fully Loaded F150 50-60k with incentives and the ability to talk down to 38-45k
2023: Fully Loaded F150 70-85k with incentives and no ability to talk down gets the price to 65k???
Thats ridiculous. No reason a half ton truck should be 65k
Posted on 7/11/23 at 9:20 am to Suntiger
Right??? who is "THEY" and what is their big secret plan? It's amazing how many people want to blame the boogey man for their own bad decisions and why they can't achieve some aspirational goal.
Posted on 7/11/23 at 9:22 am to The Eric
quote:
No reason a half ton truck should be 65k
The reason is that people will pay it
Your average baw only cares about the monthly note
Page 2 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News