[airics]

i somewhat agree with the above posts, if you were in vegas, made a bundle of money and then lived beyond your means, or even at a ritzy scale, you are screwed.. however if you were a budgeter, never needed the Escalade, Lexus, etc - they you should be ok imo.

[sheriff]

Originally Posted by airics

i somewhat agree with the above posts, if you were in vegas, made a bundle of money and then lived beyond your means, or even at a ritzy scale, you are screwed.. however if you were a budgeter, never needed the Escalade, Lexus, etc - they you should be ok imo.

My first observation of the "bloated" LV economy was 6-8 years ago, when I observed a line of 100-200 Escalades, and Lexus' at Nevada Power drive-thru after hours line to avoid shut off.

[airics]

funny thing happened this summer as i showed a couple smaller houses (200k), across the street from one of them, was a ferrari in the neighbors garage.. i suspected that they had a huge house and blew the equity on the ferrari, and then lost the house

[dynimagelv]

We have a guy up the street that did that....now he's renting and has a Jag......oops....

[AA702]

When I lived in the Bay Area, People there had nice cars...beemers, benzos, lexus, range..etc.. but had no house. I always thought that was strange but the homes were so out of reach, why not get a status symbol kind of car.

[AA702]

Originally Posted by airics

i somewhat agree with the above posts, if you were in vegas, made a bundle of money and then lived beyond your means, or even at a ritzy scale, you are screwed.. however if you were a budgeter, never needed the Escalade, Lexus, etc - they you should be ok imo.

Yes, I totally agree with this ! If you live wthin your means, you should be ok. I have posted about this before. Those who spend more money than they make, and those who live on the edge.

[jpk]

I guess the silver lining is that you can get a very good deal on a luxury car right now, if you were a saver.

[AA702]

Most luxury cars don't hold their value too well. A friend of mine bought a 2003 MB S500 for under 30K in 2006. Thats less that 1/3 in 3 years. Why buy new?

[jfkIII]

Wait just a little longer and you can catch some really good "Going Out Of Business" deals at your GM, Chrysler and Ford dealers.

[AA702]

Originally Posted by jfkIII

Wait just a little longer and you can catch some really good "Going Out Of Business" deals at your GM, Chrysler and Ford dealers.

Honestly, I think Ford might survive this. The only thing that I always wondered is why can't ford bring their good small cars to the US market? Is it because Americans do not want small fuel efficient cars? or because they are not as profitable as large trucks and suv's? Ford has some great products in EU, such as the Mondeo, Focus and Fiesta. The EU Focus is a much better car than the one they sell here. The Fiesta also comes in a fuel miser diesel that gets 65 MPG. Why can't we make this car here?? Something is going to have to drastically change. I guess its up to the American consumer on what they really want? Relax the taxes on diesel so it costs the same as Reg. unleaded, then you can really see savings in the wallet without having to rely on hybrids and their higher costs.

Here is a link if you like to look at that car, its a nice looking car too!

The 65 mpg Ford the U.S. Can't Have - BusinessWeek