A place to discuss all things ADM
#1861
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This was interesting to read about crypto bros and Lamborghini purchases. Reality is even though crypto has crashed, so much wealth was created that Lambo dealers are still feeling good:
https://www.bloomberg.com/news/artic...r?srnd=premium
I’ve been skeptical myself of $100k ADMs on 992 GT3s, but admittedly the selling prices on BAT still reflect $100k premiums even with the stock market correction, bitcoin crash, much higher interest rates etc.
Porsche really knocked the ball out of the park with the 992 GT3 - they could’ve priced it at 225k base and 250k with options with no impact to demand. Remarkable.
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AlexCeres (08-07-2022)
#1862
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‘They will keep piling up, as flippers many will get burned and what to jump ship. Housing, cars, and watches all collected cash with the demand. May daughter 26 was shopping for a house, and the over asking was insane, and I told her to wait she reluctantly did ………she bought her first house yesterday at appraised value and better location and house vs when she was going to over pay.
#1863
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‘They will keep piling up, as flippers many will get burned and what to jump ship. Housing, cars, and watches all collected cash with the demand. May daughter 26 was shopping for a house, and the over asking was insane, and I told her to wait she reluctantly did ………she bought her first house yesterday at appraised value and better location and house vs when she was going to over pay.
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Juggy (08-07-2022)
#1865
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a $1m house at 2.7% is the same monthly and total cost of ownership of 30 years as a $750k house at 5.2%.
the market has not dropped 25% in most markets…
there are still cheap auto rates out there (under 3%) but they’ve been rising steadily, cutting margin for flippers is the silver lining.
#1866
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bingo!
a $1m house at 2.7% is the same monthly and total cost of ownership of 30 years as a $750k house at 5.2%.
the market has not dropped 25% in most markets…
there are still cheap auto rates out there (under 3%) but they’ve been rising steadily, cutting margin for flippers is the silver lining.
a $1m house at 2.7% is the same monthly and total cost of ownership of 30 years as a $750k house at 5.2%.
the market has not dropped 25% in most markets…
there are still cheap auto rates out there (under 3%) but they’ve been rising steadily, cutting margin for flippers is the silver lining.
#1867
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5% rate she got is cheaper than the crazy price she would have paid 6 months ago, all worked out and the house has room to appreciate vs the others are dropping below what they paid under water.
#1868
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Lots of cars for sale the list is up to 99 asking price is not always selling price. Click on GT3’s and nationwide to see the inventory.
https://www.cargurus.com/Cars/l-Used...#resultsPage=7
https://www.cargurus.com/Cars/l-Used...#resultsPage=7
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Maverick787 (08-07-2022)
#1869
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maroli (08-07-2022)
#1870
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but the point I made still remains, buying a home for 10% less (for example) isnt something to automatically celebrate when the cost of money has increased 200%…
#1871
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yes you’re right but since I don’t know future home values and future interest rates I cannot predict
but the point I made still remains, buying a home for 10% less (for example) isnt something to automatically celebrate when the cost of money has increased 200%…
but the point I made still remains, buying a home for 10% less (for example) isnt something to automatically celebrate when the cost of money has increased 200%…
#1872
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yes you’re right but since I don’t know future home values and future interest rates I cannot predict
but the point I made still remains, buying a home for 10% less (for example) isnt something to automatically celebrate when the cost of money has increased 200%…
but the point I made still remains, buying a home for 10% less (for example) isnt something to automatically celebrate when the cost of money has increased 200%…
#1873
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Your correct, and all examples will cut differently. In my little ones case even with the higher interest rate her mortgage is actually cheaper than the the house that was priced over with the lower rate. My coaching for her was really around don’t buy just because you can in a bad market, and now she’s jumping for joy …….more house and better area for less on the monthly. She an outlier but she did well, and she’s proud of herself at 26. She will be out of that house in 5-6 years, and not much worry about being under water.
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Maverick787 (08-07-2022)
#1874
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Your correct, and all examples will cut differently. In my little ones case even with the higher interest rate her mortgage is actually cheaper than the the house that was priced over with the lower rate. My coaching for her was really around don’t buy just because you can in a bad market, and now she’s jumping for joy …….more house and better area for less on the monthly. She an outlier but she did well, and she’s proud of herself at 26. She will be out of that house in 5-6 years, and not much worry about being under water.
I said **** and just held off, now I'm getting all these zillow price drop notices and new homes, that if this was 2 or so month ago they wouldn't have lasted a weeked, and now they're just sitting.
Last edited by Azzurri GT3; 08-07-2022 at 03:11 PM.
#1875
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I started look for a home in May when the market was on fire, everything that was 'good' in the area I wanted would sell in a weekend for easily 20-50k over asking.
I said **** and just held off, now I'm getting all these zillow price drop notices and new homes, that if this was 2 or so month ago they wouldn't have lasted a weeked, and not they're just sitting.
I said **** and just held off, now I'm getting all these zillow price drop notices and new homes, that if this was 2 or so month ago they wouldn't have lasted a weeked, and not they're just sitting.