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About a year ago dealers were trading in .1 RS's for $140K, I received a trade in of $135K on my .1 RS that I use to own at the time... lol! and I said F%$# You and hung up!
Yet debt to household income dropped to lowest level since 4Q of 1998....and rates are much lower.
Debt service to household income is all time record low going back to 3Q 1991 when fed first began monitoring that ratio.
Not coincidentally, the record high was 4Q07....
Edit:. Correction... data back to 1979, and still currently at record low.
Household debt to GDP is not at the lowest level since 1991. Excluding the spike during the pandemic last year, Q1 2021 debt to gdp levels were the highest since Q3 2016. Q1 2019 was the trough and they've risen since. Longer term ratios are hard to compare against, because they're skewed due the runup and round down around the 2009 housing crisis.
Debt levels are rising, which creates risk if the economy hiccups.
I just saw it. Guess that kinda answers the question why the car doesn’t have the original seats. Makes you more aware about no car being 100% guaranteed clean even if Carfax or Autocheck says so. BUYER BEWARE OF VIN WP0AC2A96JS175170
If I decide to sell based on offer, it would be a Mclaren 600LT or 620R. Let's see as had some interest from friends but their cars in trade don't interest me.
Yet debt to household income dropped to lowest level since 4Q of 1998....and rates are much lower.
Debt service to household income is all time record low going back to 3Q 1991 when fed first began monitoring that ratio.
Not coincidentally, the record high was 4Q07....
Edit:. Correction... data back to 1979, and still currently at record low.
Where are you getting this number from? It's definitely not what I'm seeing. And both the current level of debt and income were boosted by stimulus programs (many families paid down debt with stimulus money). However, the recent increase in debt is mostly secured (mortgages) which is better than unsecured and mostly prime.Auto loans did notably surge. Once the impacts of the stimulus fade, we'd better hope inflation fades along with it because in real terms, wages have not kept up with inflation and if the fed has to start hiking to control inflation, there will be a strong sell-off starting with the stock market. See December 2018 for an example.
The above mentioned debt to GDP isn't really a great metric as it relates to Porsche GT3 affordability, because corporations don't buy GT3's with revenue.. The US govt has more than covered the impact to households, and as noted above, the consumer has paid down debt obligations with the helicopter money.
Overall debt is irrelevant if not compared to implied equity or ability to service debt. Said differently, every time we have record GDP or record S&P500, it shouldn't be surprising to see record nominal debt levels.
One way to look at the record (or near record) low debt levels to household income is a bearish sentiment from consumers, otherwise they would be be spending instead of saving.
All the above is purely theoretical as obvs govt debt to GDP is different story, and it's possible the govt simply crowds out the consumer...but again, not aware of any GSA requisitions for GT3's
Where are you getting this number from? It's definitely not what I'm seeing. And both the current level of debt and income were boosted by stimulus programs (many families paid down debt with stimulus money). However, the recent increase in debt is mostly secured (mortgages) which is better than unsecured and mostly prime.Auto loans did notably surge. Once the impacts of the stimulus fade, we'd better hope inflation fades along with it because in real terms, wages have not kept up with inflation and if the fed has to start hiking to control inflation, there will be a strong sell-off starting with the stock market. See December 2018 for an example.
The above mentioned debt to GDP isn't really a great metric as it relates to Porsche GT3 affordability, because corporations don't buy GT3's with revenue.. The US govt has more than covered the impact to households, and as noted above, the consumer has paid down debt obligations with the helicopter money.
Overall debt is irrelevant if not compared to implied equity or ability to service debt. Said differently, every time we have record GDP or record S&P500, it shouldn't be surprising to see record nominal debt levels.
One way to look at the record (or near record) low debt levels to household income is a bearish sentiment from consumers, otherwise they would be be spending instead of saving.
All the above is purely theoretical as obvs govt debt to GDP is different story, and it's possible the govt simply crowds out the consumer...but again, not aware of any GSA requisitions for GT3's
Ah - that's debt service, not total debt which based on my back of envelop maths, is definitely not at an all time low relative to income. But yes, agree with all the rest. Although if the government is crowding out the consumer, not sure 10-year yields would be making like an anvil right now! The yield curve is doing some interesting things....
Where are you getting this number from? It's definitely not what I'm seeing. And both the current level of debt and income were boosted by stimulus programs (many families paid down debt with stimulus money). However, the recent increase in debt is mostly secured (mortgages) which is better than unsecured and mostly prime.
Weren't all those mortgages supposedly 'prime' in 2009 when they were packaged as A rated pools? If the economy pulls back and the housing market drops from it's ridiculous current levels, a lot of that new debt isn't gonna look so prime anymore. I love the supposed current market value of my house, but I don't for a minute think it's a permanent change. People are partying like it's 1999 with debt right now and, if the economy were to stumble, like that silly rascal has been known to do, things won't look so well collateralized.
Sold for $224k with fees. A low option .2 RS in not a very desirable color, but low miles. Came in lower than a lot of people were probably expecting.
It's funny what's desirable to some and not others. To me if there were ever 991 RS to get, it would be that one. All the right options with none of the fluff, perfect for the track and street, and not in a outrageous color.
Graphite Blue manual .2 GT3 with 10k miles (odometer in picture 55 says 6300 miles so must be an old photo) on BAT. PCCB, buckets, FAL, and .1 RS CF front hood (original hood included). $167k original MSRP. Damage on the driver-side corner of the front bumper cover is shown up close in picture 32.
08-03-2021, 01:40 PM
If the economy pulls back and the housing market drops from it's ridiculous current levels, a lot of that new debt isn't gonna look so prime anymore. I love the supposed current market value of my house, but I don't for a minute think it's a permanent change. People are partying like it's 1999 with debt right now and, if the economy were to stumble, like that silly rascal has been known to do, things won't look so well collateralized.
