Posted on 05/20/2014 10:18:54 AM PDT by Red Badger
When I was a youth in the 60s trying to make sense of money and value, my touch stone was “$2000=a car”
When government gets involved with business, all rules fly out the window.....................
I paid $2400 in 1974 for a brand new Ford Pinto............
Too many cars were destroyed that still would have been on the road. With fewer used cars, there is less for others to buy.
Not everybody buys new. Especially in todays economy.
For some people, a good 8,9-10 year old car is all they can afford.
Indeed. What authority? Okay, how about non-scientific just watching things as they occur? There is a word for this, what is it? Starts with an A? Something that is commonly experienced.
Well, I tend to believe there is an over-production of these vehicles, that they continue to be over-produced and if that makes me uninformed, I would appreciate someone remedying my condition with hard data to support the opposite.
Ahhhhhh... The Alzheimers just cleared and the sun came out. ANECDOTAL.
Sometimes the anecdotal is correct.
You admit to that?
A lot of these pics are the same ones that were posted in other articles around 2008-2009. This one was pretty thoroughly picked apart at zerohedge yesterday. And if the doomer porn site is calling bulls*** on a gloomy story like this, it probably bulls***.
“Below is shown just a few of the 57,000 cars (and growing) that await delivery ....”
That’s not a lot of cars, when you consider that a car-carrier ship holds about 8,000 cars.
I’ll see your Pinto and raise you an AMC Gremlin!
My parents bought a house in 1971 for the whopping price of $17000, 3B 1 Bath, huge corner lot with chain link fence...................I was 16 and thought it was so outrageous that they would never pay it off.....................
But to be fair, people don’t buy a price. They buy a monthly payment. When interest rates drop, prices increase, and vice versa. It’s why I think the best time to buy real estate is when interest rates are high.
Didn’t you know that removing the license plate and parking your car in a lot with thousands of other same model and year cars is a sure sign of ownership?
This isn’t true. I got this email from Walt Disney Jr. and Bill Gates. If I forward this to everyone I know they will give me a free week vacation at Walt Disney World in Utica.
My parents’ first house was a 3 br 1 bath brick ranch on a 100’ x 200’ lot. They paid $15,000.00 for it in 1961, and were worried about making the payments. 12 years later they sold it for $25,000.00. They’d added a large den and a second bath, but that’s not a bad return.
I’ve never been so lucky myself. Paid $93,000.00 for my first house in 1994, a 3 br 2 bath with vinyl siding on a little over an acre. I’m in process of selling now, and will be lucky to get $135,000.00 for it. Prices have been flat and hovering around there for a decade. What equity I’ve acquired since then has been due to paying down the note. At least I was never upside down on it, but up until last year I would have taken a hit on the price and waited close to a year to get it sold. So, things are back close to “normal” was before 2008.
Hmmm. Clearly I was mistaken, but that’s okay—a nigerian princess has promised me millions next week for helping to get her deceased father’s fortune out of the country. So there!
I moved from Seattle to central (rural) KY three years ago. I knew that botht the cost of living and average income here were lower, the latter significantly so, than in Seattle, but I wondered how it would impact products that cost the same no matter where you live.
A few interesting things:
1. In Seattle, everyone warns of buying a “salvage title” car that has been rebuilt. I learned that to buy one here I could not even use the Boeing Credit Union. They won’t loan money on them. But EVERYONE drives them here, regardless of income level. And they turn out to be a great way to get a late model car that is, truth be told, as solid and reliable as non-salvage. And if you ever get into an accident you may find that the air bag actually works - but probably doesn’t. I have a 4WD Z71 Silverado that way. Turns out my banker also had one, and my neighbor with a large ranch also. And there are LOTS of places doing it around here.
2. Before we left Seattle we had discovered estate sales. It got to where pretty much every non-food item was purchased that way. And in affluent areas, nobody wants used stuff so it’s not worth all that much, relatively speaking. But here in rural KY we don’t bother. There is a HUGE market for used stuff to the point that it is as expensive or even MORE expensive than new.
3. Coming from Redmond, WA to here you notice the quality of cars goes down DRAMATICALLY. I drive a Scion FR-S and people react to it the way they would react to a Lamborghini in Redmond. Literally. It’s oddly satisfying, but I wish I was not that shallow. Seriously. To level the playing field, I have a quarter mile long gravel driveway and I have washed the car twice in the year I’ve owned it. ;-)
I fell for this story too, particularly due to the “time stamp” that supposedly was so recent. But it seems to be baloney — outdated (albeit real) photos. http://www.snopes.com/photos/automobiles/unsoldcars.asp
Hahahahahaha
Not all salvage or rebuilt title vehicles are equal. You want to know the history and extent of damage, as well as who did the repairs. Some if not most are perfectly fine vehicles and you’d not get any more trouble out of them than a vehicle with a clean title. Others, not so much. Avoid flood cars like the plague, you’ll never get them straightened out. Lots of those around still from Sandy.
Or Let me Google 'unsold cars hoax' for you.
Most of the photos are about five years old and were taken during the middle of the post-recession Carpocalypse. The problem was fixed four or five years ago. (From Zero Hedge: UPDATE: Currently May 16th, 2014, all of these cars at the Nissan Sunderland test track have disappeared?)
The Zero Hedge author doesn't understand how cars are made. They aren't made as ordered. They're made in bulk and shipped in bulk to areas where they will be sold. The Avonmouth photo is within 200 miles of a population of 45 million consumers and handles roughly 700,000 vehicles per year. The manufacturers don't just ship cars there as needed. Cars are shipped to dealers from this inventory as needed. "In the same port you might find containers full of iPhones and iPads. That doesn't mean there are millions of unsold iPads and iPhones, that's just how almost all manufacturing has worked through all of history"
The Zero Hedge author doesn't understand how Google Maps work. On the average, photos are one to three years old. That photo of three-year-old cars may be a three-year-old photo at the time it was used in a five-year-old article.
The author doesn't understand how cars age. A two-year-old car has to be trashed because it's sat, undriven for two years?
Automakers try to keep inventory levels at between 60 and 65 days supply. With the harsh winter, it soared to 76 days this March, and was back down to 69 days in May. Domestic automakers are doing worse, but none as bad as GM. GM's inventory was 114 days as of February 1.
Or Let me Google 'unsold cars hoax' for you.
Most of the photos are about five years old and were taken during the middle of the post-recession Carpocalypse. The problem was fixed four or five years ago. (From Zero Hedge: UPDATE: Currently May 16th, 2014, all of these cars at the Nissan Sunderland test track have disappeared?)
The Zero Hedge author doesn't understand how cars are made. They aren't made as ordered. They're made in bulk and shipped in bulk to areas where they will be sold. The Avonmouth photo is within 200 miles of a population of 45 million consumers and handles roughly 700,000 vehicles per year. The manufacturers don't just ship cars there as needed. Cars are shipped to dealers from this inventory as needed. "In the same port you might find containers full of iPhones and iPads. That doesn't mean there are millions of unsold iPads and iPhones, that's just how almost all manufacturing has worked through all of history"
The Zero Hedge author doesn't understand how Google Maps work. On the average, photos are one to three years old. That photo of three-year-old cars may be a three-year-old photo at the time it was used in a five-year-old article.
The author doesn't understand how cars age. A two-year-old car has to be trashed because it's sat, undriven for two years?
Automakers try to keep inventory levels at between 60 and 65 days supply. With the harsh winter, it soared to 76 days this March, and was back down to 69 days in May. Domestic automakers are doing worse, but none as bad as GM. GM's inventory was 114 days as of February 1.
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