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WT, my comments aren't an insult, they are a fundamental compliment to the size and force of the millenial age group as they get older, make more money, spend more of their money on the finer things in life.
I am a Gen-Xer. We are a small group. Not much of a buying force that followed the Boomers. Not saying Boomers and X-ers aren't buying 996s, they are. But it's inevitable that a new generation comes of age and they get involved as well.
This is why I am so bullish on the 996 over the long term. The oldest of the Millenials are ~40. We have a 25yr+ time period of self reinforcing demand for a classic ICE Porsche. The entry point price is low, the innovations within the industry with aftermarket solutions to prevent or fix known problems has just entered a Renaissance of innovation.
Throw in a pandemic that starts a philosophical rethink person by person, free stimulus money, retireing boomers creating increase demand for workers, rising incomes as a result, better financial health, you have demand. Lack of new supply of cars and homes adds fuel to the fire for prices.
In the meantime, prices consolidate and froth is reduced as we digest the 996 price moves.
The sales prices on cars and bids actually look reasonable and pretty much in line with the prices I saw when I was shopping for a 996 in the second half of 2020
WT, my comments aren't an insult, they are a fundamental compliment to the size and force of the millenial age group as they get older, make more money, spend more of their money on the finer things in life.
I am a Gen-Xer. We are a small group. Not much of a buying force that followed the Boomers. Not saying Boomers and X-ers aren't buying 996s, they are. But it's inevitable that a new generation comes of age and they get involved as well.
This is why I am so bullish on the 996 over the long term. The oldest of the Millenials are ~40. We have a 25yr+ time period of self reinforcing demand for a classic ICE Porsche. The entry point price is low, the innovations within the industry with aftermarket solutions to prevent or fix known problems has just entered a Renaissance of innovation.
Throw in a pandemic that starts a philosophical rethink person by person, free stimulus money, retireing boomers creating increase demand for workers, rising incomes as a result, better financial health, you have demand. Lack of new supply of cars and homes adds fuel to the fire for prices.
In the meantime, prices consolidate and froth is reduced as we digest the 996 price moves.
are incomes rising?
buying power continues to decrease, home prices are soaring, but people suddenly have $40k cash to buy a 20yo porsche that books at $15k?
admittedly I'm defensive because I'm a millennial with larger than normal income and smaller than average brain power
I just can't fathom the people on BAT are doing anything other than speculating and enjoying the market's effects on their 401k balance
Last edited by work_truck; 01-05-2022 at 01:27 PM.
I would bet a bottle of Luis' favorite whiskey, that the majority of folks on this thread tracking prices, those buying on BAT and the majority of new 996 owners are Millenials.
The Millenial generation is the largest population group in the history of the US, far superior in numbers than Boomers. And Millenials are now entering their rising earnings years from 40-65.
Whether it's an extra $1600 or not, they are the major buying force.
I'd say it's a mix bag of ages buying 996's. Those who didn't have the means when they were younger now can as their lives are settling down, kids off living their own lives, etc. Then of course there are us younger folks (I was 27 when got mine). That being said though, not many of my friends can afford nice (or an extra weekend car) because they are paying off student loan debts or have started families, or just don't make enough extra disposable income in general.
I'm also sure the $1,600 checks was not a factor for people going out and buying toys. That's hardly a single rent or mortgage payment in many areas.
There will always be low-dollar, high-miles, & bad-Carfax examples of every 911 generation. There are $25K salvage-title 964's online right now. Doesn't prove anything except that highly desirable 911 manual coupes will always be highly prized by collectors
buying power continues to decrease, home prices are soaring, but people suddenly have $40k cash to buy a 20yo porsche that books at $15k?
admittedly I'm defensive because I'm a millennial with larger than normal income and smaller than average brain power
I just can't fathom the people on BAT are doing any other than speculating enjoying the market's effects on their 401k balance
Incomes are going up after 15 years of stagnation. How much more will depend on the supply and demand of labor coupled with technological innovation that can decrease the need for personnel.
But to your point, the cost of living is going up and with inflation at 7%, it will have an effect on everyone's finances. Inflation will most likely remain elevated until global supply chains open back up and until the world's central bank's choke it off thru monetary tightening sending us into the next recession.
And then the economic cycle will repeat itself again, and again, and again.
In the meantime, the supply of 996s slowly diminishes thru neglect, accidents, etc.
I'd say it's a mix bag of ages buying 996's. Those who didn't have the means when they were younger now can as their lives are settling down, kids off living their own lives, etc. Then of course there are us younger folks (I was 27 when got mine). That being said though, not many of my friends can afford nice (or an extra weekend car) because they are paying off student loan debts or have started families, or just don't make enough extra disposable income in general.
I'm also sure the $1,600 checks was not a factor for people going out and buying toys. That's hardly a single rent or mortgage payment in many areas.
1,600 alone is not enough for the bottom 80 percent of the population who are not affluent. But for the affluent, you throw in more stimulus checks to increase the total, add in rising 401k values, non-loss of jobs and even compensation increases to retain top talent who happen to be in the "affluent" space, you have the ingredients that maybe will get someone to buy a 996.
It's a complex topic that you can model many different ways, but something happened to "all of a sudden" make people come out of the wood work to buy a nonessential "play toy".
Much different than needing a new or used SUV or Sedan to drive to and from work and cart the kids to soccer practice.
01-05-2022, 01:03 PM
