Quote:
Originally Posted by speednme1
The word "bubble" on air cooled Porsche's would indicate that the cars value sky rocketed then plummeted back to Earth(back to values before the rise). That is NOT the case. Yes, prices are lower than they were in 12-15 but are nowhere near before the rise in value and that includes 930's. Example: Before 2011 a very well maintained 930 could be had for $25-35K with less than 50k miles. We are NOT there any longer. Any 930 that sells for $25-35K today would probably need $50-70K in work. So once again there is no "bubble"...just a correction in current values.
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A bubble is defined as an abnormal period of appreciation followed by a contraction. But there's no rule that a bubble can only exist if prices fall to pre-bubble levels. What makes a bubble, a bubble, is irrational behavior by investors who throw fundamentals out the window and buy on the assumption that prices will continue to increase not based on the value of the asset itself. When 30 year old cars are $20K and then 5 years later they're $100K.....a better definition of a bubble doesn't exist.