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"With home prices falling, fewer people employed, and every economic indicator on the dashboard flashing red, deflation has started to become a big enough worry that the Fed has adjusted its monetary policy to account for it. There are no such worries in the used-car industry, however. Prices have jumped 10% overall and in some cases as much as a third for used cars, thanks not to demand as much as a restricted supply after the government destroyed billions of dollars in assets as part of its Cash for Clunkers program last year ...."
..."The top four vehicles for price increases in Edmunds’ used-car tracking are all high-end, larger cars or SUV:
"With home prices falling, fewer people employed, and every economic indicator on the dashboard flashing red, deflation has started to become a big enough worry that the Fed has adjusted its monetary policy to account for it. There are no such worries in the used-car industry, however. Prices have jumped 10% overall and in some cases as much as a third for used cars, thanks not to demand as much as a restricted supply after the government destroyed billions of dollars in assets as part of its Cash for Clunkers program last year ...."
..."The top four vehicles for price increases in Edmunds’ used-car tracking are all high-end, larger cars or SUV:
Housing may not be doing good, but at least i know i can get more for my car
I picked up an '03, low milage Mercury Grand Marquis last year. I can't believe what they're going for now. I've driven it a year and could make a profit if I sold it.
I see it's been a few months since the last post. We are searching the market for a good used vehicle and I see prices I can't believe. Our last purchase was a '99 Odyssey minivan. We bought in in 2005 for about 12,000 I think. 6 year old Hondas & Toyotas are now going for $20,000, some closer to $30,000. It's hard to find a base model without lots of extras too.
Somewhere, among all those "clunkers" that were destroyed, we may have found our affordable vehicle. My business has mostly been slow, barely breaking even for 2 years. My wife's check is stretched to the max.
Thanks Obama, I appreciate your help. Do me a favor and don't help me any more.
Can you say "unintended consequences"?
All in all just another day of resource destruction and wealth redistribution from our bureaucrats at central planning.
"With home prices falling, fewer people employed, and every economic indicator on the dashboard flashing red, deflation has started to become a big enough worry that the Fed has adjusted its monetary policy to account for it. There are no such worries in the used-car industry, however. Prices have jumped 10% overall and in some cases as much as a third for used cars, thanks not to demand as much as a restricted supply after the government destroyed billions of dollars in assets as part of its Cash for Clunkers program last year ...."
..."The top four vehicles for price increases in Edmunds’ used-car tracking are all high-end, larger cars or SUV:
Obama depriving the poor from buy a used Cadillac Escalades, Chevy Suburban or a BMW X5s, what's next? Keeping the poor from buying steak with food stamps? Oh, right that's the other thread. My bad.
I see it's been a few months since the last post. We are searching the market for a good used vehicle and I see prices I can't believe. Our last purchase was a '99 Odyssey minivan. We bought in in 2005 for about 12,000 I think. 6 year old Hondas & Toyotas are now going for $20,000, some closer to $30,000. It's hard to find a base model without lots of extras too.
A quick look at Craigslist for the Raleigh/Durham area shows 2006 Honda Odysseys going for anywhere from $12K to $18K, and 2006 Toyota Sienna's for $13K to $19K.
Funny, that's not the $20K to $30K range you claimed.
So what was your point again?
Quote:
Somewhere, among all those "clunkers" that were destroyed, we may have found our affordable vehicle. My business has mostly been slow, barely breaking even for 2 years. My wife's check is stretched to the max.
Thanks Obama, I appreciate your help. Do me a favor and don't help me any more.
Oh, yeah...a swipe at Obama.
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