Re: Various CL Pickings

Posted by Tim Cole On 2017/5/5 15:06:30

I look at how long cars are for sale. There are cars sitting unsold for years. Eventually they will become estate sales. Some of this stuff is even finding its way into junk yards. Besides the demographic effect there is the persistent decline in the US standard of living.

Since I don't hesitate to pack up and move ten times zones away I am not thinking of buying anything until I retire. However, given I have been in the hoy polloi for 30 years I don't know if I could stay in one place. Especially if the phone rings.

For sure there is a crash coming. On my last business trip I was watching the auctions on the hotel TV. $265,000 for a VW microbus is absurd. There are millions of those things running around Rio. An argument can be made that cars are like paintings by dead people and will never go down in price. I don't think that is valid logic because there is no status in owning a microbus the same way as owning a Rembrandt. Supposedly high priced art impresses women because they identify with it the same way as diamonds and emeralds. Most women look at old cars as being stupid.

Pretty soon these cars may be a hobby again the same way as the Model T is.