I really need someone to come by and steal my Mustang. Then I could settle the insurance and buy FuzzyDice's Corvette.

Seriously, I can not believe someone hasn't bought his Vette already. The market must really, really be in the dumpster just like the housing market.

 

I'm afraid you're right and it's only going to get worse. Just wait to see what happens if the moron lowers interest rates again. Then, we're really in for it.

 

What the hell does lowering interest rates have to do with it? Maybe you need some economics classes. Lower interest rates = more available credit = more spending. But you're probably right, It's Bush"s fault.

 

Problem is they are lowing interests rate where the housing and lending industry is already in the crapper. People can't borrow their way out of this using there real estate equity regardless of the rate cause they don't have any.

Otherwise, buying a toy vette is a perfect use of an equity line.

Anyhow....good luck

 

I know what I need to, regarding economics, and stand by my remarks. Maybe YOU need a brush-up course.

Lower interest rates = dropping dollar (take a look at how the dollar dropped precipitously every time Bernanke did his deed recently). That is a FACT. Dropping dollar = higher fuel costs, higher import costs, higher costs for everything. Higher costs = LESS MONEY TO SPEND, thus bad market to sell ANYTHING. This could be why he cannot sell his Vette. The economy really does stink and it's all you know who's fault.

And please don't point to the recent enthusiastic post Thanksgiving spending spree, because I guarantee it is the "calm before the storm." If they drop interest rates again (and they likely will, on December 11), just watch what happens to the dollar. Just because the STOCK MARKET rises, does not mean the people out there enjoy it. Maybe 401Ks do, but not the average Joe.

And the lower interest rates go, the more disposable income, the more spending, and the more spending, the higher inflation goes, and the way to control inflation is to RAISE interest rates. So we're in a quandary, and it's not going to be pretty. This is an extremely delicate balancing act.

 

Ummmm... lowering interest rates is what keeps the housing market afloat. The fact that houses are not appreciating in value isn't tied to interest rates. The value of houses is coming back closer to reality, it's a correction. If the interest rates were raised, the housing market would sink like a stone. The stock market would turn down as people went to safer investments that started to yield more.
Lower rates means more money available. Too much money available and the currency gets cheapened, as you're seeing with the dollar dropping versus other currency. This sets us up for inflation because imported goods are more expensive.
However, it makes manufacturing items here more attractive because our labor is relatively cheaper.
And on and on....
The economy is very complicated.

Here's my guess as to what has happened to the C4 market:
#1 - The C6. It's pushing down C5s and killing C4s. Unless you really want a C4, why buy a C4 for $10k when you can get a C5 for $15k?
#2 - Global warming hysteria and gas prices. Casual buyers aren't in the market anymore.
#3 - It's 3 weeks before Christmas. If you aren't rolling in cash, how do you explain the new used Corvette to a family that wants a 52" HDTV?

Now if someone would buy my 87 for around $8k, I'd buy Fuzzy's car.

 

Isn't this a Corvette Forum

 

I know my opinion isn't worth much, but I can't find fault with anything that Dale D wrote. You hit the nail on the head. In other words, we're in deep doo doo.

 

It was mentioned that Fuzzy Dice's Vette wasn't selling and this post explains why.

 

Your opinion is worth the same as anybody's. I actually agree with you on the inflation/dollar aspect, though I don't think you'd be too happy if they increased interest, and constricted the money supply. Then you'd see real pain. The "prosperity" of the past 15 years has been built on cheap credit.

 

I was wondering if I checked into the Real Estate Forum instead maybe this one should move over to The OT section.

 

And then dogs and cats start sleeping together.....

 

Nobody in their right mind would steal a Mustang.

Live well,

SJW

 

The best time to sell a car in this market is tax refund time, about the middle of Feburary, March.. I sell used cars and that is when people are going to spend that refund.

 

I usually blame Clinton for everything.

 

I'd normally agree that lowering the interest rates stimulates the economy by making more money available. My concern this time around is that lending institutions have changed their lending practices in the wake of all the bad debt generated from sub-prime loans. That combined with a recent drop in home values following a boom means that the average Joe may not have the equity or credit available to make purchases such as a toy vette.

I'm really not much of an economist and only have a limited understanding of these things, but I'd agree with the common sentiment, we are in deep pooh and I'm worried.

 

Good conversation going on here.....I'm wondering since property values have decreased with a 'correction'. ...why doesn't the tax assessor make the same correction on my property taxes? Bring my house in line and then I'd have more money to pay someone to steal Andy's 'stang (only kidding) so he can buy Fuzzy's Vette......
Carol

 

The tax assessor wouldn't dare lower the assessment on your property because if that occurred, you'd be paying less in property taxes. And we can't have that now, can we? We need to fill up the government's coffers so they can spend every penny of it and then some.

 

Wow I didn't know he finally had it up for sale. I saw him a few months ago, we drove out to EnglandGreens in a small caravan. That car is loud and clean.


BTW... thieves leave evidence.
Nothing like a lit cig under a leaking car though



OOps.

 

"dogs and cats living together... MASS HYSTERIA!"

Fuzzy's car is being sold at the wrong time of year.... just wait till after New Years when tax refund checks start.