You can probably guess that I think it is going much lower. Personally, I believe we are already in recession and the numbers have been manipulated with respect to how they have been calculated since the Obama era and we've been printing money this whole time.....
Agreed. Recession is coming/happening.
A big part of me feels bad for rooting this on, but I really could use homes, boats, and trucks to go on sale. So, another 10-20% hit in the market would help me.
Sorry
None of that stuff is going down. It might “go up less fast” but still. Trucks ain’t gonna be $40k again. They’re $60k+ and will be. I hope I’m wrong!
There are some pretty big payments floating around. 30k-50k for boats, 20k sxs, and 70k trucks. If jobs start shrinking and the price of goods stays high I would be very surprised if the market for outdoor related products doesnt soften.
I have family that works in big construction building. Amazon has been canceling mid build. They have to pay millions to shut those builds down. One company had several building cancellations for million plus square ft high tech warehouses. The writing is on the wall, it’s not just Amazon.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
Something got bust soon. We cannot keep on this path of inflation. When half of country depends on other half for there well being its not good. Fuel prices are killin everyone that has a business or have to commute to work. Business are not gonna keep on path we are on for very long. There will be a breaking point . Glad i got 3 gardens planted .
The reason Automobiles cost what they cost is directly related to extended financing terms on auto loans. 20 years ago a bank wouldn't lend you more than 60mo. on an Auto Loan and that was actually more common with a credit union.
Now 100+ months.... No Problem, step right up here and let's get you singed up!
$40k @ 60 months vs $80k @ 96 months it's all about the monthly payments. We just got screwed by the banking regulations more than anything and that was also due to the 2008 crash that's when extended terms got rolling. This is part of what was meant to help bail out the Auto Makers IMO. Fastforward to 2022 and $100k isn't unheard of for a Car.
No government employees were harmed in the making of this mess.
The reason Automobiles cost what they cost is directly related to extended financing terms on auto loans. 20 years ago a bank wouldn't lend you more than 60mo. on an Auto Loan and that was actually more common with a credit union.
Now 100+ months.... No Problem, step right up here and let's get you singed up!
$40k @ 60 months vs $80k @ 96 months it's all about the monthly payments. We just got screwed by the banking regulations more than anything and that was also due to the 2008 crash that's when extended terms got rolling. This is part of what was meant to help bail out the Auto Makers IMO. Fastforward to 2022 and $100k isn't unheard of for a Car.
Just cause they cost $40-100k doesn’t mean you have to buy them.
If you want to always win, never play anyone better than you!
Yea most folks just ask for payment amount. Hell with that. Im paying cash or i do without . Too many folks living above there means . Lots foreclosures coming i think. I will NEVER pay more than 20k for a vehicle. Don t understand folks got have a 20k atv,400k house an 100k truck. And finance house for 30 yrs, truck for 100 months an atv for 4 years . An trade it all back in before its paid for. Interest on borrowed money is a waste. Might as well burn it. Guess im just different or a tightwad . Or thats what my wife says.
It's not about what you and I would do.... the problem is you can't control what everyone else does. If they would allow you to finance a car 180 months there would be a line of Stupid out the door ready to sign the paperwork.
That's just reality. And that's how vehicles got so expensive. The thought behind 60 months was that the care was worthless after 100k. Cars got to the point they lasted much longer was the justification.
Fast Forward to 2022 and cars appear to be beginning to have problem again and don't last.
Those 2 don't mix.
But again... "we" aren't the dumbasses that are doing this crap but "we" as a result are riding right along with the masses of people who are.
The end result = $80k 1/2 ton trucks.... or higher.
Last edited by Goatkiller; 05/06/2211:54 AM.
No government employees were harmed in the making of this mess.
I looked at the US Treasury site today and I Bonds are paying 9.25%. Crazy...
You are limited to $10k per year per person.
30 yr maturity, interest earned is fully taxable at the federal level, and if I am not mistaken, you forfeit 3 months worth of interest as a penalty if you cash them out before 5 yrs. If you are middle income, hold for a year and then roll them, after the penalty and federal tax, you can look at clearing around 4.5% on an annual basis. 9.25% sounds good, but with inflation running at an woefully understated and incorrect 8.5%, you're better off buying something you want or need with that cash, than netting a 4.5% return, while the purchasing power of the dollar is loosing double that % on an annual basis. If you've got nothing you want, need, or need to payoff, and all your money is going to do is sit around in a savings account, then by all means, this would be a good option.
I looked at the US Treasury site today and I Bonds are paying 9.25%. Crazy...
You are limited to $10k per year per person.
30 yr maturity, interest earned is fully taxable at the federal level, and if I am not mistaken, you forfeit 3 months worth of interest as a penalty if you cash them out before 5 yrs. If you are middle income, hold for a year and then roll them, after the penalty and federal tax, you can look at clearing around 4.5% on an annual basis. 9.25% sounds good, but with inflation running at an woefully understated and incorrect 8.5%, you're better off buying something you want or need with that cash, than netting a 4.5% return, while the purchasing power of the dollar is loosing double that % on an annual basis. If you've got nothing you want, need, or need to payoff, and all your money is going to do is sit around in a savings account, then by all means, this would be a good option.
The reason Automobiles cost what they cost is directly related to extended financing terms on auto loans. 20 years ago a bank wouldn't lend you more than 60mo. on an Auto Loan and that was actually more common with a credit union.
Now 100+ months.... No Problem, step right up here and let's get you singed up!
$40k @ 60 months vs $80k @ 96 months it's all about the monthly payments. We just got screwed by the banking regulations more than anything and that was also due to the 2008 crash that's when extended terms got rolling. This is part of what was meant to help bail out the Auto Makers IMO. Fastforward to 2022 and $100k isn't unheard of for a Car.
Same theory behind college tuition cost rapid rise.
“Socialism only works in two places: Heaven where they don't need it and hell where they already have it.” ― Ronald Reagan
