Re: World Record Price for Yenko Camaro?
 

I think there is a lot of stresses on the real estate market today that we did not have in the past that is going to create a bubble in many areas.

Average equity levels have been decreasing every year. There is a rising trend of people who are upgrading to newer/larger homes coming in with lower equity levels than in the past in their old homes because they spent their equity on CARS, boats, vacations, CC debt etc.

There are more ARMS (40% of all loans today are ARMS)
When the rates go up 4-5 years from now people will have a hard time affording the extra payment. This is one reason they took the ARM over the fixed rate in the first place..they wanted their McMansion right away. (I'm not refering to flippers). Look at all the new loans out today that are ARMS with interest only payment.

Some say the appraisals done over the last 4-5 years will turn into a huge scandel itself that will make the S&L banking fiasco look like childs play. Many appraisals were done that over infalted the homes worth so the people could get the loan and the lenders looked the other way. However when people try to sell they are going to find out their home is worth less than what they paid for it. Add on those 1110, 115 or 125% ditech loans above that and they really will be hurting.

Also, like one poster said above houses in one area went up 40% in one year. That means that proprty tax will be going up also. I don't know too many people that can take a hit like that year after year in property tax hikes without eventually bailing out and moving to a lower priced area.

Some may say I'm pessimistic but if you told people back in 1999 that tech stocks would loose 90% of their value in a few short months time they would have looked at you like you were nuts.

Re: World Record Price for Yenko Camaro?
 

It's the RE taxes that worry me...they never go away or go down !

Re: World Record Price for Yenko Camaro?
 

Ain't that the Truth..

Re: World Record Price for Yenko Camaro?
 

"It's the RE taxes that worry me...they never go away or go down ! "
Most of the propert tax goes to schools, where I live we are considered a sending district to a regional school. Long Beach Island is a beach community so most homes are summer homes owned by New Yorkers, North Jersians, and Pennsyltuckians so they get whacked royaly and get no benifit, they figured it is costing close to $40,000.00 grand a kid per year to send them to this school as there are only a few year round locals. They are finally wising up and considering using one of the local grade schools as a new high school, if that happens taxes will most likely go down. Property here has gone through the roof with little 50 x 100 ocean or bay front lots being sold in the millions if you can find one, even the worse locations on the main street 3 years ago that were selling for $150,000. are now million dollar tear downs.
Sam

Re: World Record Price for Yenko Camaro?
 

http://councilfor.cagw.org/site/Page...CCAGW_homepage

Check this out if you havent before, Im not a real political person but this is really getting bad...read this and you will be amazed how bad we are getting ripped off by our own congress. Check out the one foriegn pork add on that we as tax payers are forking out a million bucks to save a snake from Guam...We have also given Tiger Woods a 100,000 grand, like he really needs it...I registered and sent them 50.00 bucks for now which hopefully will save me thousands later on. Like I said, read it and you will be amazed, 700.00 for a toilet seat is nothing, I wish I could get 50.00 bucks for one...register and send this to as many people that you can, maybe we can make a difference...our kids and grandkids will thank us...
Sam

Re: World Record Price for Yenko Camaro?
 

Some people have more money then brains!!

500,000 for a gt 500e built buy unique sold at barrett thats not an investment its plain out retarted. There will always be people out there who have tons of money and want what they want...

Re: World Record Price for Yenko Camaro?
 

Back to cars....
This ad is a good thermometer to gauge the current thinking, and the quoted article clearly demonstrates it's the early '90s again! https://www.yenko.net/ubbthreads/imag...thumbsdown.gif
I wish the investors would stick to stocks and leave our hobby alone.
http://cgi.ebay.com/ebaymotors/ws/eBayIS...751813&rd=1

And the car has a bunch of mistakes (besides the day-2 stuff)

Verne

Re: World Record Price for Yenko Camaro?
 

My answer about Florida, isn't that the state that can't figure out a voting machine!!!!! https://www.yenko.net/ubbthreads/imag...mlins/haha.gif https://www.yenko.net/ubbthreads/imag...mlins/haha.gif https://www.yenko.net/ubbthreads/imag...lins/beers.gif https://www.yenko.net/ubbthreads/imag...arleySucks.gif

Re: World Record Price for Yenko Camaro?
 

After reading DIE BROKE the author had a cool idea - Your kids will just fight over the money, so spend/enjoy it and "YOUR LAST CHECK SHOULD GO TO THE MORGUE AND IT SHOULD BOUNCE." https://www.yenko.net/ubbthreads/imag...arleySucks.gif

Re: World Record Price for Yenko Camaro?
 

[ QUOTE ]
Prices average $30,000 to $50,000 now and should go up 30 to 40 percent this year, while a perfectly restored model could reach $100,000."

[/ QUOTE ]

If you had an investment (that did not cost you any money other than a little bit of insurance) that went up 30-40% per year why would you sell it?? To get a return of 3% on a CD or a stagnant stock market return??? Why does the owner not just keep the car another year and get another 30%...that way his reserve will be met.