cars leftover in long beach....
12-10-2008, 02:40 AM
#26
MBWorld Fanatic!
I agree. Tighten those belts, put on a helmet, and have your combat boots ready.
This is not over by a long shot, even Obama said it would probably get worse before it gets better. On topic, it will take years to move these cars in the market to actual buyers. There literally thousands of cars in CA and NY, and the market if flooded with cars that are slow to sell already. Moving from dealer to dealer is like shifting debt and never paying it off.
Let's not even talk about houses. 13-15 months inventory? Builders under contract are still building due to contractual obligation and then they themselves end up going bankrupt?
Not to on the doom and gloom, but let's be realist here about the situation. Great time to buy land, houses, stocks, cars, terrible time to sell.
This is not over by a long shot, even Obama said it would probably get worse before it gets better. On topic, it will take years to move these cars in the market to actual buyers. There literally thousands of cars in CA and NY, and the market if flooded with cars that are slow to sell already. Moving from dealer to dealer is like shifting debt and never paying it off.
Let's not even talk about houses. 13-15 months inventory? Builders under contract are still building due to contractual obligation and then they themselves end up going bankrupt?
Not to on the doom and gloom, but let's be realist here about the situation. Great time to buy land, houses, stocks, cars, terrible time to sell.
12-12-2008, 04:46 PM
#27
MBWorld Fanatic!
Join Date: Apr 2003
Location: SoCal OC
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S, GL, Escalade ESV, my shoes
One word: JAPAN
Lot of my friend lost money in the NASDAQ, not from buying stock in year 2000, where it was near 5000. Most (myself included) lost our shirt when we jumped in in 2002-2003, when we thought BRCM, GE, NVDA, or CSCO were cheap. These are real company, making real profit.
There're many bear market rallies, whether it's the equity, commodity, or real estate.
So funny that people think run-up bubble last for 10 years is fine, but expect burst to last only a year or two
J A P A N !!!!!
Lot of my friend lost money in the NASDAQ, not from buying stock in year 2000, where it was near 5000. Most (myself included) lost our shirt when we jumped in in 2002-2003, when we thought BRCM, GE, NVDA, or CSCO were cheap. These are real company, making real profit.
There're many bear market rallies, whether it's the equity, commodity, or real estate.
So funny that people think run-up bubble last for 10 years is fine, but expect burst to last only a year or two
J A P A N !!!!!
I'm going out on a limb here and predicting that were are at the early stages of the end of this economic madness. At least here in CA. It all started here and we are seeing some early signs of the end of down cycle. First off as everyone knows the housing must bottom before any recovery. I know we are still seeing a lot of foreclosure activity and backlog of but at the current pricing the investors are now coming in and buying this "cheap" stuff,
as the rental income/mortgage costs ratio is attractive. For us here is S CA the sales volume is WAY up year over year, inventory has been falling for the last three months and is approaching a 5 month supply,sharply lower. The mean price continues to fall at a much slower pace as things are already down so dramatic. In addition the mean value is distorted because all this volume is taken place at lower end of market where all foreclosures are focused. The upper tier market there is very low quality inventory. Most of the upper crust is sitting on sidelines. No buyers but also few sellers at the upper end. Refi activity is going through the roof with the new low rates. I hear a lot of chatter of people expecting this upcoming summer to be the bottom. That with the new super low rates will lead to a lot of activity especially in the higher end with people tired of the sidelines. The markets always lead the perception so I say now is it. The equities market already reached its bottom of around 7700 at DOW. Now approaching 9000. Combine this with the current HOPE effect of Obama and promised huge government spending and there you go. BTW I have absolutely no experience in the real estate industry.
But my common sense says. BUY NOW. Buy your cars now, buy stocks now, and buy real estate now. 
as the rental income/mortgage costs ratio is attractive. For us here is S CA the sales volume is WAY up year over year, inventory has been falling for the last three months and is approaching a 5 month supply,sharply lower. The mean price continues to fall at a much slower pace as things are already down so dramatic. In addition the mean value is distorted because all this volume is taken place at lower end of market where all foreclosures are focused. The upper tier market there is very low quality inventory. Most of the upper crust is sitting on sidelines. No buyers but also few sellers at the upper end. Refi activity is going through the roof with the new low rates. I hear a lot of chatter of people expecting this upcoming summer to be the bottom. That with the new super low rates will lead to a lot of activity especially in the higher end with people tired of the sidelines. The markets always lead the perception so I say now is it. The equities market already reached its bottom of around 7700 at DOW. Now approaching 9000. Combine this with the current HOPE effect of Obama and promised huge government spending and there you go. BTW I have absolutely no experience in the real estate industry.
But my common sense says. BUY NOW. Buy your cars now, buy stocks now, and buy real estate now. 
