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re: There has to be a correction in the housing and vehicle market at some point, right?
Posted on 7/11/23 at 11:55 am to AUFANATL
Posted on 7/11/23 at 11:55 am to AUFANATL
quote:
Baby Boomers are finally entering the death zone. I have to think they own a disproportionate share of good housing and other consumer items. Father Time is still undefeated. They will become infirm, downsize, transition to nursing or retirement homes and die just like every other human being who ever lived. When the "death boom" happens we should see a lot more inventory flood the market.
I’m seeing where a lot of these boomer’s children are keeping the houses for passive income.
0
Posted on 7/11/23 at 12:02 pm to Swagga
quote:
The market is slow to correct but it is happening. I follow the Mannheim used vehicle value index and while it was extremely fast to rise it is slowly falling.
6-8 months ago there were some of the best stock opportunities I've ever seen.
There are still quite a few out there where money is going to be made.
Posted on 7/11/23 at 12:07 pm to Dragula
quote:
Well, the Totalitarian World Government and it's desire for single universal currency of course.
This is why the price of tin foil is so high. Don’t get me wrong I love it This is the sort of person I wish I could bring along to cocktail parties to entertain the crowd.
Posted on 7/11/23 at 12:09 pm to jizzle6609
quote:
The market is slow to correct but it is happening. I follow the Mannheim used vehicle value index and while it was extremely fast to rise it is slowly falling.
Apple is up $70 a share since then. Berkshire Hathaway is up close to $120k per share. Yes there was some great opportunities then.
Posted on 7/11/23 at 12:32 pm to dr
Used car repairs are thru the roof, too
I had to have a a/c heater core done on my car last month (2011 SRT8) F'kg $7k!!! , and replacement carpet not available
the service manager said they just sold a '23 SRT Charger for $120K!!!
she said that the demand for the v8's is high, and prices (for any V8's) are gonna go thru the roof by 2024 when they are discontinued
the 2024 electric charger is supposed to sell for Tesla prices (seems there are no ICE's available in the future lineup)
I had to have a a/c heater core done on my car last month (2011 SRT8) F'kg $7k!!! , and replacement carpet not available
the service manager said they just sold a '23 SRT Charger for $120K!!!
she said that the demand for the v8's is high, and prices (for any V8's) are gonna go thru the roof by 2024 when they are discontinued
the 2024 electric charger is supposed to sell for Tesla prices (seems there are no ICE's available in the future lineup)
Posted on 7/11/23 at 12:41 pm to dr
quote:
Used car repairs are thru the roof, too
Yep. If you have to send your car to the shop for anything other than basic generic stuff, good luck.
Posted on 7/11/23 at 12:42 pm to bird35
quote:
I finally broke and bought a 4 year old used Corolla with 38,000 miles for $18,000.
And you're lucky you got it at that price.. I have seen that model with that mileage going for at least 22K-23K. I don't care I just want something with AC to get me from point A to point B...
Posted on 7/11/23 at 1:30 pm to GusMcRae
quote:
Deep-state lefty globalists. The frickwads in charge of your government who have scared the populace into believing that man made global warming is a thing, driven primarily by Americans’ internal combustion engines, and that if you give them enough of your money they can make it 1/10th of a degree cooler over 100 years.
Wow! RWNJ's are out in force.
Posted on 7/11/23 at 1:33 pm to RoosterCogburn585
I'm car buying now. The dealers have no incentive to lower prices because people are knocking each other over to pay over MSRP. I walked out and they didn't care, they have a 3 day turnover on new inventory.
Posted on 7/11/23 at 1:36 pm to Adajax
quote:
I'm car buying now. The dealers have no incentive to lower prices because people are knocking each other over to pay over MSRP. I walked out and they didn't care, they have a 3 day turnover on new inventory.
I'll be driving my paid off 2016 with 110,000 miles for at least five more years. Hopefully by then, some of this insanity will have stopped, but I doubt it will.
Posted on 7/11/23 at 1:51 pm to bird35
quote:
As the Government continues to borrow money and spend like crazy the prices of everything we buy will increase.
While the government shoulders its share of the blame, there are other non-governmental factors driving inflation too. We're stuck with inflation and high interest rates for a while regardless of what the government does.
Posted on 7/11/23 at 1:57 pm to LoneStar23
quote:
no end in sight
FIFY
Posted on 7/11/23 at 2:27 pm to supadave3
quote:My advice to you is to get into something you own ASAP. As far out as possible to reduce the price. So what if you have to drive an hour (or move to a smaller city). A fixxer upper, HUD or foreclosure, etc. anything to get your own place. You can learn how to fix anything (plumbing, electrical, HVAC) it's all on Youtube. If you can't afford the above, find an empty lot and put a single wide on it. WGAS what it is as long as your name is on the deed and it's cheap. Then save money and upgrade over time. If you can't lower yourself to this, then yes you are stuck and a leaf in the wind of the markets.
I sure hope so. I’m stuck in an apartment and can’t find anything that I want anywhere close to my price range in the Houston area. As of now, I mostly work remotely so that gives me some freedom to expand my search but I don’t think that I’m in my forever job so not ready to pull the trigger on something an hour from downtown.
I've been preaching real estate to my teenaged boys for years. If they choose to ignore me, my words will haunt them later.
Posted on 7/11/23 at 7:30 pm to Fun Bunch
quote:
Wife and I both need new vehicles but I'm just not going to do it in this market. BOth cars work fine
This is comical. We NEED new vehicles. Current vehicles work just fine.
Posted on 7/11/23 at 8:47 pm to skewbs
i saw a girl on marketplace advertising a 2022 Z71 tahoe with 23,000 miles for $78,000. Her description said all she was trying to do is break even and walk away from it, but the extended warranties would be extra. I do not fell sorry for her, she signed up for that craziness.
Posted on 7/11/23 at 9:02 pm to hubreb
quote:
It is happening now, just slow...12-18 months things will look better
I think so too.
Our old neighbors sold their house at the peak for a pretty high amount considering the house. We put our old one on the market 9 months later, this past March, for $25k less than they did at the peak. Larger corner lot.
Price has been lowered, lowered again, lowered again, etc. It gets showings sometimes, but so far no buyers. And hey, totally get it. No problem over here with the idea that we will likely need to lower it until it hits a more attractive price.
I imagine many houses on the market are currently in the same situation. Throw it up for sale on the high end, and adjust as needed until it's right. They're going to see what they can get, and adjust from there. Plus, most people had no idea what price to even go with since they're looking at coming off a peak high.
Give it another year IMO and those adjustments will be realized and prices will be more realistic.
Side note - Weird how much feedback you get from showings where they say they loved everything, and only think it is priced a bit high, but there is no offer put in at what they think is more appropriate.
This post was edited on 7/11/23 at 9:06 pm
Posted on 7/11/23 at 9:16 pm to RoosterCogburn585
96 months for a vehicle? As long as that’s an option people will do it, just like the mortgage shenanigans. If lenders offer it, people will sign the papers no questions asked. Who cares about the crash that’s coming after people can’t pay for it?
Posted on 7/11/23 at 9:18 pm to chrome_daddy
quote:
A fixxer upper, HUD or foreclosure, etc. anything to get your own place
This is what I’m going to end up having to do. I’m paying way too much in rent to just give away every month. I have to get back into owning housing one easy or another.
Posted on 7/11/23 at 9:21 pm to skewbs
quote:
This is comical. We NEED new vehicles. Current vehicles work just fine.
They are older cars at this point both well over 120k miles. Things are starting to wear down and repairs are increasing but they “work fine”. My wife’s car in particular has some issues that trouble me but it’s still fine, for now.
If you couldn’t understand what I meant I don’t know what to tell you. Don’t be a fricking prick.
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