Prices be cray cray...

if you go ridgeline you gotta promise to come back here on a Friday and start a thread about how much better the power train is. That’ll set the fellas off.

 

Ha it's been that way in certain parts of the country for awhile. I thought I over paid on my house a few years ago can't touch anything for less than 120k more than what I paid

 

Home prices ARE artificially inflated by the spate of business entities buying SFHs to rent them back out to people. With such low rates, so much cash in the economy, and inflation — they’d lose money if they just let it sit.

These homes have no more intrinsic value than before. What happens when home ownership plummets and everyone’s forced to pay more in rent to these companies than they would if they had a mortgage?

 

I don't think that these financial institutions are really thinking it thru. In the next economic downturn these people will stop paying rents and covid set a new precedent for renters. There are landlords out there that haven't been paid in close to a year.

IMO there's way too much risk in being a landlord right now esp if you don't own the property outright

 

I think the logical progression is buy a Ranger first, after that a Ridgeline with the Karen Costco over landing package

 

Don’t look at the west coast housing prices. You think 40k over asking is a lot lol. I personally know a co worker who offered 625,000 on a house listed for 499,999. They were beat by a 640,000 bid. The house had 120 offers in 48 hours. So insanely crazy right now. I’m so glad I’m not in the market for anything at the moment. It’s just a matter of time before another 08 happens…. Anyway, cheers my friend. Have a great night

 

The conditions of 2008 don't exist anymore. Due to regulations and appraisal requirements the alignment just isn't there. A small correction could occur but it will be nothing like 2007, 2008, 2009.... I was in the middle of this stuff working with software the big-banks use to handle this stuff. Even some of them that were using the software went under because.... they ignored the findings of the software. I remember Bear-Stearns flying in with boxes and boxes of paper ( mortgages ) and asked our teams to analyze it.... we found a scary amount of paper ( mortgages they were holding ) on houses that didn't even exist,... it was like a piece of dirt... this stuff doesn't happen anymore.

But... yea... housing and car prices are out of this world... I understand the auto-prices due to shortages of material, but I can't quite understand what is driving the housing market through the roof.

 

True, very good point. Didn’t think of that at all.
Just a crazy market for sure. It’s only a matter of time we as a society can keep going this direction. You would think money would run out eventually but the funny thing it isn’t. The RV, housing and motorcycle markets are insanely up right now. Never seen anything like this in my life and doubt we ever will again….

 

I never thought to look up what my base SR Tacoma was worth on kbb but apparently it’s worth almost as much as my 2019 M4 $37,000 vs $39,000. Tacoma has only 11,000 miles and M4 at 106,000. But that’s impressive if it’s accurate. I paid $81,000 for the M4 and only $33,000 for the Taco

 

That’s almost worth it. An extra 10k in your pocket but then you have to buy right back into the same market unless you have other cars. So crazy tempting.

 

I guess I’m a little confused here. If you sold your 2018 ST 4X4 for $37,991, what do you mean about getting a 2011 that you could pay off in 12 months. You should have left with at least $10-15K in your pocket and a paid off 2011. Even if you sold it for even money at $29.9k you would leave with a paid off truck and money in your pocket. What am I missing?

 

You have 106k miles on a 2019 M4? Thats a lot of driving. Lol

 

Saw a 2019 Pro (stock) w/15K where they wanted over $50k for it… nutz is right!

 

Yes used prices are crazy, but is anyone getting a new Tacoma below MSRP? I'm not saying some people aren't making out well but it used to be that you would haggle to get the car below MSRP. Now people are excited they got a truck at MSRP. My point is, our dollar is yet again worth less. So while you may have gained value in your used vehicle the cost of most other things has also risen.

 

any major purchase right now is not a good idea. housing and auto market are sky high. If you can sell and capitalize on it and hold the money you can be good.

 

Because he more than likely still had to pay off the remainder of the loan on the 2018. My guess is that not all of that $37k was positive equity.

 

For the average home owner (80%+ of buyers) rising home prices only cost you more, often a lot more. If you mortgage a home and take 30 years to pay, you'll pay for it 3X with original price, interest and taxes/maintenance.

 

Not necessarily on topic, but I totally considered selling my house on condition of a guaranteed leaseback rate for 2-3 years. If I could net $150k more than a normal market says it’s worth, I might actually do it. We’ve been considering a local move to build on some more property, and this would certainly help with the concern of carrying two mortgages.

 

That’s not so crazy, I drive a stock 2019 Pro with 15k miles on it and my instant cash offer last time I checked carvana was over $50k.

However if someone wants to give me 100k for my truck, I will deliver it myself right now to any location on the eastern half of the United States. If you’re in California I will need to arrange a couple days off work first.

 

To me it’s nuts because they were $45K then. I bought my 18 DCLB OR @$32k then. Didn’t want a 19 as it had less features (they started skimping for costs) and 18s were still around.