Inrev

In terms of bloated builds this Carrera 4 takes the cake: https://finder.porsche.com/ca/en-CA/...1&order=newest

I suppose someone who doesn't know Porsches will walk into the showroom and buy it because of the wing and the color...

BioBanker

Totally, and for $180k youre getting either the best 12C or maybe for $190k a 650S!
Thats how it went for me...spec'd out a GT4RS that I wanted to around $230k.....thought that that was a high price but contacted dealers to see if I could get one. Quickly learned that I could not at anywhere near that price...went to McLaren and found a ton of cars Id prefer at prices that I felt were more reasonable. ZERO regrets so far and Ive driven my 570s as many kms in 6 months since I bought it as I did in 2 average years with my GT4 (which is crazy given that the McL was off the road for winter!).
Just loving the move so far. I cant believe that base 911s are so expensive now.

KenTO

Not so much 911s but tons of brand new Cayennes, Macans and Taycans on dealer lots right now, they will be begging to get it off their hands in the next few months.

UncleDude

I think they like having some stock on the lots, gives people something to look at and not everyone wants to wait 6-7 months for an SUV order.

M718R

I don't know about that - I hear the float plan rates for dealerships have sky rocketed. I suppose the price / profits have compensated for that as well.

moab

Market definitely softening. When dealers are calling you to demo their cars, something is up.

pfitzsim

Yes - interest rates 😀

SToronto

anither .25 next week.

tbuff

will see. Every time i think he hikes he holds and vice versa. Market is calling for it tho

RDMcG

I do think it will happen .the real impact will be on house prices .Nobody needs a Porsche after all but I would expect they will ease off.


In terms of the RS there is a strong demand and and they are stretching out production times-I heard of an approved allocation being delayed a further six months. Also MSRP is up since I got mine.

that being said this will ease off too when Gen 2 cars show up-the pattern is always the same as people who want the latest start to get rid of the cars they have.

Unless you’re a speculator a correction will be good for enthusiasts.

moab

house prices are not going down. they have withstood signficant interest rate hikes already. there is continuing demand because of immigration.

KenTO

Banks were told not to let people default unless last resort, so extending amortization periods, good article in the Globe today about this. House prices take time with higher interest rates as have to wait for the usually 5 year term to complete and then renew. Wait until 2025 and then see what happens when all those people who bought at peak covid find out there property is worth less than they paid and they will have to renew at significantly higher rates.

SToronto

I'm not sure we're going to see massive price reductions on the average homes.

Expectation is rate reductions will start mid-late 2024. So 2025 renewals should enjoy lower rates than today, thus bringing the rate closer to pre-hike cycle rates, meaning lower impact than today and likely later this month.

The real crunch is people who have renewed mid 2022 through early 2024.

Other problem is wage rates, these need to settle along with increased unemployment.

What I am really curious about is the impact of all these easy buy now pay later 0% plans. Those are going unreported to credit bureaus.

moab

There could be softening in smaller markets but a single family, detached home in toronto is not going to see any loss in value. I don’t see it. Condos are also selling again. Client launched a condo in Markham recently (not a market I would be interested in) and sold out 500 units in a weekend. The only good thing that dope Trudeau has done is to encourage immigration but of course, that good policy has failed when people arrive here and have lack of support to be able to translate their skills to real jobs.

Car sales will suffer though because many people lease as we know and rates are stupid for a depreciating asset.

This is all my opinion based on close to 25 years in real estate!

SToronto

Seeing a bunch of this.

a) Realize things are more difficult than expected
b) Realize things are more costly than expected
c) Cannot get jobs in trained field here in Canada - lack english skills, culture adaptation, lack communication ability
d) Moving to Alberta because housing and cost of living is less than Ontario
e) Canadian dream is not so dreamy
f) Immigrated to Canada on fraudulent terms
g) Financially strained due to point F