Do vehicles really go up in value?

Doge coin

 

I lived in NorCal years back. Went back there last year and was shocked how much more shitty looking it had gotten from even 5 years prior. Especially the bay area, Sacramento & so-cal.

Bum camps on beaches, ghetto expanding into suburbs (looked like section 8 seeding normal areas), crime, and people paying $$ to live in that. When you incentivize bad behavior you get more of it.

 

uh, it is a fact. There are plenty of stores with signs saying that they can't get employees back due to them being paid to sit at home.

https://www.nbcnews.com/politics/congress/small-businesses-struggle-hire-their-workers-back-n1197061

Stop playing politics with a fact ("wrong site for that" you could say).

 

I have a family member that's in law enforcement in So Cal and they said i'd be surprised how many people are now living in run of the mill 3 bed 2 bath houses. Some real Cosmo Kramer stuff
https://www.youtube.com/watch?v=AvZfb5t8DnA

 

lol, I have a friend over there who has a 4 bed room that he rented out the other 3 to former college friends and has been making out pretty well. Great way to pay off the note if you don't end up with renter horror stories.

 

Just wait until reality hits the buyers when those HUGE house payments are due.

 

15 years ago I knew 30 year old co-workers that were still living with their parents. The lab was in Whittier/Anaheim, the manager lived in Pasadena because even then it wasn't worth attempting the move.

Now, no fucking way. My buddy lives in Van Nuys in a 600 sq ft apartment, no parking except for whatever he can find on a busy street, and he still pays $300 more in monthly rent then I do with a fully escrowed mortgage.

As much as I complain about it there really are parts of that area that I like. But if I were to devote that much of a financial impact to living somewhere like that, I'd rather move to a Caribbean island.

 

If interest rates go back up steeply some folks are going to get destroyed who went in over their head on adjustable rate mortgages. Would be a great buying opportunity for those with cash in hand.

 

Apologies if this was said in subsequent pages... we are experiencing a conflux of anomalies that are inflating the price of late-model used cars dramatically.

https://www.wsj.com/articles/looking-to-buy-a-used-car-expect-high-prices-few-options-11620639000

I just leased by new Tacoma (no markup, but no discount either) after selling them my 2020 Civic Si for more money than I bought it for 9 months ago. Not more than I owed, more than I purchased it for.

If you own a relatively desirable late-model used car, go ahead and plug it into Carmax, Carvana or Vroom and see how big a check they will happily write you for it right now. The number might surprise you.

New car inventory is very small right now. Used car inventory is priced way up right now. And it sounds like that's how it's going to be for a while.

 

Haha hard to say. Borrowing has potential though. It's effectively shorting cash at the cost of interest. It's even better these days because interest rates are so low. No guarantee with real-estate though as we saw in 2008.

If things really hit the fan though (hyper inflation), the play now would be to exchange for a different currency. Be it an alternative fiat, digital, or ammo.

 

Not inclined at all to get involved with currencies supported by wishes. Got plenty of ammo. But... maybe I should look into a rental house. Any other ideas?

 

I don't know if the ability to see future posts is scary or just creepy......

Is this a new talent? Because selling a gas sipper to lease a not so gas sipping truck on the cusp of rising gas prices sounds like a miss.

 

63 Corvette split window. New $4k. Now it costs $250k.

 

I sold a running GTO convertible for $450 and made money on it. I sent cars to the junk yard that would be worth bank today. I got a defective crystal ball, I guess.

 

Unless i'm married to someone, fuck any roommate situation. I rather toil in some shit side gig if I couldn't afford the note.

 

Inflation takes no prisoners.

 

I’ve been trying to hire for months with little luck! It’s hard when your competing with the unemployment check.

 

I work at a local credit union and can attest pretty much all of this - our business clients are having their BUSIEST months with 1/4th the staffing because of the unemployment "bonus"

When I'm working auto loans, there's crap that's selling for as much as 5% above HIGH RETAIL value... and it's moving...

When qualifying for a mortgage loan, I have members that are having to pay an additional 10-50k ABOVE APPRAISAL value... and they weren't even the TOP DOLLAR OFFER....

Nucking futs Batman

 

I'm waiting to see how high gas goes this summer/fall.

 

Yes, our rigs have gone up in value (for now). I purchased my truck for $32,063 ($32,400ish OTD) back in Dec 2018. Private party KBB is $36.1 to $39.3k... Almost $7k more even 31k miles and 3.5yrs later ha Contacted a few dealers yesterday as I have been towing with the idea of getting an Offroad and the best offer for my SR5 was $36.5k sight unseen. Possibly more he said in person.

Problem is the most you can get off a new one around here is about $1,500 or so. The rest are around MSRP minus the $500 Toyota cash. I just can't stomach paying around MSRP. Things will calm down eventually, but that may be a while from now.