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Re: Resale Market
Quote:
woody77 said:
Hi guys. I was curious what the market conditions look like for new or used F430's considering the steep downturn in the US housing market. Has it softened the amount F430's can command over MSRP in the US or is it business as usual?
I don't believe it impacts the Ferrari market. Buyer's in this market are fairly immune to the vagaries of financial conditions.Prices will remain strong. TOO many buyers chasing a limited number of cars.
Re: Resale Market
US high-end consumption has been softening over past few mths...and will continue to soften over next several mths....the affluent tend to be brighter/more risk-conscious than the typical illiterate/innumerate subprime/middle-class/aspirational guy....and many senior execs/founders of cos. will opt to detune own visible consumption if announcing layoffs/skimpy bonuses for employees....
Mkts for $10MM++ houses/apts have already softened in NYC/SF/LA....the upcoming Wall Street bonus season will likely be somber....w/signif implications for NYC/Greenwich economy....
430 mkt will face its biggest (and cannibalistic) assault from upcoming ?$175-200K Dino, arriving in mass quantities (?5-10K units/yr globally) and destabilizing the entire $150K+ discretionary car mkt in context of slowing US (and Lond/Munich/Frankfurt) economies....
Great times to be a value-conscious consumer of high-end goods/svcs.... 
Mkts for $10MM++ houses/apts have already softened in NYC/SF/LA....the upcoming Wall Street bonus season will likely be somber....w/signif implications for NYC/Greenwich economy....
430 mkt will face its biggest (and cannibalistic) assault from upcoming ?$175-200K Dino, arriving in mass quantities (?5-10K units/yr globally) and destabilizing the entire $150K+ discretionary car mkt in context of slowing US (and Lond/Munich/Frankfurt) economies....
Great times to be a value-conscious consumer of high-end goods/svcs....
Oct 26, 2007 4:35:20 AM
- SoCal Alan
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Oct 26, 2007 5:04:33 AM
- Mike S
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Re: Resale Market
The "R" word is now being used more frequently in financial circles. Many traders I work with are now sitting in cash and very bearish about the US market and overvaluation in the global economy, particularly China. Many are skeptical that Bernake will be able to engineer a soft recession like Greenspan did last time.
But I'm the eternal optimist... anyone wanna give up the Scuderia slot at MSRP?
But I'm the eternal optimist... anyone wanna give up the Scuderia slot at MSRP?
Re: Resale Market
Quote:
MKW said:
Local Bay Area MBZ dealer says lots of their cars are being loan defaulted on by ...realtors , LOL !
Not too surprising. They're driving around in the fancy MBZ's and when the commissions stop they can't make the payments. It's interesting to hear about these spin off telltale signs otherwise if you read the newspaper you think everything's perfect
Re: Resale Market
It is just the beginning... Most smart guys I know have bailed away from stocks and have or are trying to unload real estate... The only thing saving the US right now is a low USD, but this will come to an end too.
That said, right now zero impact on car sale, still can't get a 430 or GT2 for a reasonable price... But as mentionned above, the introduction of the "lower" end Ferrari in numbers will dramatically affect the $150-250k market in the US.
That said, right now zero impact on car sale, still can't get a 430 or GT2 for a reasonable price... But as mentionned above, the introduction of the "lower" end Ferrari in numbers will dramatically affect the $150-250k market in the US.
Re: Resale Market
Quote:
MKW said:
I'm BUYING real estate right now . Buy into fear, sell into giddiness.
I agree with the philosophy, just might be a little early to get in. Supply is still increasing and has not peaked yet and prices are not near bottoming yet. It will get worse before better.
Re: Resale Market
Quote:
thuggy said:Quote:
MKW said:
I'm BUYING real estate right now . Buy into fear, sell into giddiness.
I agree with the philosophy, just might be a little early to get in. Supply is still increasing and has not peaked yet and prices are not near bottoming yet. It will get worse before better.
Here in the UK, there is now an oversupply of apartments in various cities and prices have actually fallen in thouse properties.
Buying in now is still early but there are sure bargains out there. Need to find the right types of properties in the right areas though.
I'm going to hold on to cash for now....
Re: Resale Market
This last run up was the result of easy credit and the Fed's purposely throwing liquidity into the market via low interest rates. Unfortunately now the well has run dry with some real estate areas probably never recovering. The fun isn't over yet that's for sure. Of course hot areas probably won't suffer too badly.
Re: Resale Market
Hot areas do suffer, because:
1. it's where the values shot up fastest during the bubble, so those are probably the most overvalued areas.
2. as the value of not-so-hot areas craters, it creates arbitrage opportunities with the better areas.
3. what is hot today won't necessary be hot later.
With energy prices bound to rise in the future, the best investment is probably to buy entire blocks of the ghetto, as close to the CBD as possible. When American gas prices reach current European gas prices, American cities will start looking more like European cities today, i.e. the most sought-after areas will be downtown, in immediate vicinity to good-paying jobs.
1. it's where the values shot up fastest during the bubble, so those are probably the most overvalued areas.
2. as the value of not-so-hot areas craters, it creates arbitrage opportunities with the better areas.
3. what is hot today won't necessary be hot later.
With energy prices bound to rise in the future, the best investment is probably to buy entire blocks of the ghetto, as close to the CBD as possible. When American gas prices reach current European gas prices, American cities will start looking more like European cities today, i.e. the most sought-after areas will be downtown, in immediate vicinity to good-paying jobs.
Oct 29, 2007 4:09:18 AM
- SoCal Alan
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Re: Resale Market
Quote:
The Groom said:
Hot areas do suffer, because:
1. it's where the values shot up fastest during the bubble, so those are probably the most overvalued areas.
2. as the value of not-so-hot areas craters, it creates arbitrage opportunities with the better areas.
3. what is hot today won't necessary be hot later.
What do you consider the "hot areas" in the U.S.?
Quote:
The Groom said:With energy prices bound to rise in the future, the best investment is probably to buy entire blocks of the ghetto, as close to the CBD as possible. When American gas prices reach current European gas prices, American cities will start looking more like European cities today, i.e. the most sought-after areas will be downtown, in immediate vicinity to good-paying jobs.
If this is the case, put your money where your mouth is. If you're correct, you'll be the next billionaire.
Oct 29, 2007 8:45:52 AM
- The Groom
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Re: Resale Market
Quote:
SoCal Alan said:
What do you consider the "hot areas" in the U.S.?
Both in a national context (NYC, SF, SoCal, Miami...) and in a local context (e.g. Manhattan, suburbs popular among the "aspiring upper middle class" in most large cities, or developments targetting wealthy tourists or pensioners in Florida...).
Because the hottest areas have attracted the most speculators, they have the most to lose when said speculators have to cut their losses and run (or go bust).
Quote:
SoCal Alan said:Quote:
The Groom said:With energy prices bound to rise in the future, the best investment is probably to buy entire blocks of the ghetto
If this is the case, put your money where your mouth is. If you're correct, you'll be the next billionaire.
I'd have to be a billionaire in the first place. How about we start a pool?
On the other hand, in dollar terms, German state bonds might return well over 20% p.a. in the next few years!
Re: Resale Market
Quote:
SciFrog said:Quote:
MKW said:
I'm BUYING real estate right now . Buy into fear, sell into giddiness.
Too early, prices have not even started to go down in NYC...
Depends on where and what you are buying. I don't buy yuck stuff like condos or tract homes .There are some tempting buys in almost brand new credit tenant strip centers in many of these new cookie cutter exurbs, though, with desperate landlords willing to sell at cap rates that are ...
Re: Resale Market
Well from what I know and experience, market do very but places that are starting to grow more into the Ferrari market, its OVER PRICED! Not only do have I seen Ferrari hold there value, but sometime I just want to ask the sales man, were you ever a stock brooker before this job?
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