Create a bunch of off-the-wall characters with prosthetics and accents then set them loose on the unsuspecting public, either wing-tipped or rednecked.
March 9, at It was very hard to find one in good shape and the cost to get one went through the roof. Then all of a sudden the love affair with the car died and you could pick one up for pennies on the dollar.
Is this the kind of supply and demand you are talking about? Lord Blankfein March 9, at 4: What supply and demand am I talking about?
There are only X number of properties in socal prime areas. There is your economic and math lesson for the day.
Without a doubt, one of the coolest cars of all time and prices are skyrocketing…supply and demand FTB March 10, at 5: My hunch is your in your 50s or later based on your comments are there any bulls on here in their 20s or 30s, btw?!
Thanks for the lesson Einstein. At these prices however or greater especially as interest rates rise or QE gets tapered -no fcking way, IMO.
Wait til cash or gold are king again or buying momentum goes negative instead of positive. Curiously LordB, what line of work are you in?
March 10, at I am pretty tired of making the same case over and over again. This time is different. Like I said a many times before, the things the Fed has done is only delaying the inevitable not removing the inevibility… Every physical object a human creates, be it a SFR or a BMW, is a depreciating asset.
Price increases on depreciating assets should always be suspect. But at some price point that ideal moves out of reach. Bulls will use them to demonstrate that, hey, demand exists!
Lord Blankfein March 10, at 1: Yes, the pile of lumber and drywall depreciates over time and will need to be eventually replaced. The rich are getting richer and likely will be going forward.
These people are only interested in living or owning in certain locations…and coastal CA will always be on that list. MB March 10, at 1: If you love it; great.
No way unless jobs come that way. On a sidenote, I deal with attorneys making between approx. You keep saying people want coastal property so it has to keep going up, but thats just not true at any price…or me and a lot of other people on this blog would buy some as we can afford it.
March 10, at 3: Yes the dirt does not depreciate but my comment was very specific. The question is what has changed with the dirt that makes its useful value change so dramatically economically speaking.
This is a discussion that is actually held in econ classes. This is where modern classical econ falls apart because they believe that there is no such thing as asset bubbles. If you spend a little time researching the theory you might change your tune as I did… Lord Blankfein March 10, at 8: I am surprised of the rally we have had for the last 2 or so years.
None of this takes away from the supply and demand issues that have been present in desirable parts of socal for decades. We all agree the rich are getting richer.
The rich want to live in certain areas for a variety of reasons. This tells me that these areas will survive the next storm quite well.
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