Was This Finally “Peak Insanity” in Used Vehicle Prices? And all other crystal ball questions

How many rate hikes do you think we need to to fix all the supply chain shocks? They will never admit it publicly but the only way out is to push us into recession.

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About 20 days ago I sent an inquiry to a BMW dealer about a CPO X5. The guy responded that it’s a hot car and getting lots of attention. I didn’t respond because I didn’t care for it at the asking price. I’ve been getting voicemails every other day and he just emailed me that “timing is critical on this one”. Should I tell him that I know?

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Buy up all the real assets using printed money. Then destroy/devalue the currency. They’ve been doing this since the creature from Jekyll islands inception. Want to really blow your mind, research how most of the “money men” that died on the titanic were opposed to the federal reserve. Another coincidence though purely :roll_eyes:

Of course all the “fact checkers” label that conspiracy and their favorite, anti Semitic. How many coincidences imply conspiracy though. Opposing the Rothschild dynasty and J.P. Morgan/Warburg banking houses isn’t anti Semitic

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How about those insane used vehicle prices?

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A Used Car Market Crash Is Coming: Here’s How to Prepare (fool.com)

I’m not 100% sure if fed rate hikes will solve the Supply chain problems. All the rate hikes will do is just make a certain section of the country so poor that they can’t afford things and that will bring down demand to the current supply level.

In other words - a recession

Counterpoint: No, Used-Vehicle Values Are Not Going to Crash - Cox Automotive Inc.

We are forecasting wholesale used-vehicle values to lose about 3% year over year by the end of 2022. No one, dealers nor consumers, needs to worry about a crash in used-vehicle values.

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These prices are stupidly unsustainable- Miami rents got jacked up by 40% in one year

NY, Austin all setting records for rents - it’s gonna get dicey - strap in - get the funds ready for the crash and invest post crash

FYI - Miami will crash soon once all these companies start recalling their employees to SF and NYC

Spoke to a higher up from Capital One today - former PE guy - dude said the company is scared to bring people back - he said he’s paying close to $200k to kids with 1 year of experience lol - too many people are leaving their jobs

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California worse
600k buys you a shack that needs major work :lying_face:

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1br apartments in Brickell on AirBnB are going for $7k a month!

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damn little columbia is popping off!

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Same in northern NJ and most suburbs of NYC.

And you’ll pay $15-$20k a year in property taxes for that shack.

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In my area homes are all selling for over zestimate. So YMMV. agreed it was always high before insanity but last 2 years it’s been accurate or low near me.

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Nothing you just said supports this. It doesn’t take 6-7 years to catch up production. New plants could be built in far less time. I don’t know when this will be over but there is no way in hell it lasts that long.

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My brother-in-law just purchased a house in SoCal and I can confirm this statement. He bought a slightly more premium shack that requires some work for 800k.

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Counter view as a Miami resident: some of these companies are embracing WFH and/or are also either opening up offices down here or are expanding on existing space they already had & hiring more (Microsoft, Amazon, Goldman Sachs, JPM Private Bank, Blackstone to name a few). Not to mention the start-ups that relocated here along with funders. We aren’t at the level of the Bay Area or NYC yet by any means. But, entry level wages in some fields have gone up, at least relative to where they were in South FL. Once the WFHers that have to go back do go back, hopefully local this ecosystem will continue to grow more organically. I personally do not see a crash in rent prices happening simply because of a lack of housing supply in Miami and across the nation. May some prices come down due to some demand falling? Sure, but I don’t see a full on crash, as much as I’d like there to be.

I think my girlfriend and I are living in one of the last 1 br/1 baths in Brickell that’s still just under $2K/mo. Regardless of the situation, a 40% rent hike is not sustainable. Something has to be done, but IDK what that is.

Also don’t see the car market slowing down, either. I still haven’t been able to test drive an M340i (been trying since Oct) since they just keep getting sold as soon as they hit the lot. Braman gave me a quote any way for a pretty base model they had in the show room and it came with a $10K mark-up from MSRP + marked up MF…someone bought it later that day any way.

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Surging demand has pushed the price of used Teslas to $63,000 — a jump of $1,700 in a single week, according to data from the CoPilot app.

Used SUVs, on the other hand, have dropped in price by an average of $862 over the last month.

I’m sure it didn’t have anything to do with the $3k+ price bump on new ones.

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Suffice to say, insanity for used Tesla prices isn’t over.

At least through all of this, you can still buy one at msrp without any dealer markup.

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