2008 was because of the banks and the credit default swaps. We really were overbuilding because of the low interest rates and it needed to cool down to some extent but not as rapidly as it has-as this is very disruptive:
Yup. Big difference in buyers today who were vetted and qualified and those with stated incomes and little support in 08. The former can afford their homes, presumably, the latter got sideways fast. I imagine there will be a normalized correction but nothing akin to the 08 drop and attendant foreclosure crisis2008 was because of the banks and the credit default swaps. We really were overbuilding because of the low interest rates and it needed to cool down to some extent but not as rapidly as it has-as this is very disruptive:
Credit Default Swap: What It Is and How It Works
A credit default swap (CDS) is a particular type of swap designed to transfer the credit exposure of fixed-income products to another party.www.investopedia.com
It is somewhat. I’d say it’s used cars but hell most car loans were always underwater before the pandemic. I bought a new car during this inflated period but it was a new car. Loan at almost 0% and $10,000 trade in. Only the same stupid people took out an inflated loan as always.
I’m buying next month. I’ve heard most new are at MRSP and there’s room for negotiation on used. Just going back and forth on what we want.
I bought new because of incentives and the rate difference. It just made sense. Ford still had incentives on certain models.
That's another factor in the decision. I can buy a used with a 5%+ rate or pay $6-8K more for new at a 3-4% rate through the dealer's incentives. Depending on trim level, I can buy new for only $3-4K more than a used 2019-2021 model, but I like all the extra options in my vehicles.
Nothing wrong with my current vehicle I just want a truck. I like to camp, fish, hunt, etc so it's a necessity.
While I think it's good to have some gold it's not been much of investment for years. There are other precious metals that may be a better investment.
We sold my wife’s car before we moved from Cali to CO due to logistics and the price of used cars - we paid $16K for her car new and sold it for $11K with 80k miles.
Does anyone have those l lines anymore? i'm sure there is but there's none in the stores that we go in.
It's kind of fun and sad to look back and think what might have been. For example, if you had invested $300 in Berkshire Hathaway stock in early 1980 you would have over $450,000 today. I'm sure there are other stocks that have done even better. Even the company's stock that I worked for has gone up a lot in the last few years. It was in the mid 30s when I left and is over $350 now. Bot my wife and I had quite a few stock options when we retired but they were all in the low 50s and expired in 2012 and the stock had never got higher than the option price before they expired.
