Quote:
Originally Posted by OceanVista
Bubble?
No.
Prices adjusting to where they should have been had there not been a recession. Same with real estate.
Add to this much of what has been mentioned:
1) International buyers. Not just the Europeans. Now, Asians.
2) Inflation. Once significant inflation hits there will be a rapid rise in hard assets. That is one of the reasons Wall Street has become the nations largest landlord. They are banking (literally) in single family house appreciation.
3) Move to hard assets as a store or wealth. All classes of 'collectibles' are on the rise.
4) Demographics. (Gen X and Baby Boomers overlap in their car desires)
5) Trendy. Old Porsches are and will become very trendy over the next 24-36 months. Trendy in the terms of people wanting to be seen in them who aren't your traditional old Porsche owner. Example: David Beckham owns a clone of McQueens 71S.
6) Ferrari investors are buying old 911s. If you go to the auctions (we do) speak with the guys looking for the $250k 67s...chances are he has a few classic Ferraris.
The list goes on.
No bubble.
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My driver-quality '85 3.2 I bought in the mid-teens would now get low-twenties. I bought two years ago. If I ever do a top end, I can add $4k to the price, if the paint is shiny and the interior remains a 8.5/10 that it is now. I don't think the market will go down much. It will flatten this year, IMO, but not recede.