[PushingMyLuck]

Originally Posted by David W

As a student of history I have found the human race tends to follow a pattern. I loved to race/work on/drive the 911 for decades. One part of me likes to see my small collection explode in value, but that is not the main reason I have them. Now acquiring another is becoming unlikely, I wont chase with the crowd. A bit sad.

An interesting but more dramatic parallel:
Tulip mania - Wikipedia, the free encyclopedia

Yes, some other readers finally are aware this is a bubble.
Assets don’t double in 3 years with no change in the fundamentals.

Originally Posted by PushingMyLuck

Bash,

I have seen many more cars coming to market than a month ago.
Sellers are indeed taking advantage of this 100% spike in prices.
However, the flippers are crawling everywhere now. Bubble market.
A fairly priced car will literally be sold to a flipper within hours.
Then the car is then relisted at the top end of market.
Be patient, and you'll eventually find a non-dealer car FSBO that you like.
The best attitude to have it a take it or leave it.
This is bubble territory, so hold your ground.

Originally Posted by PushingMyLuck

Do some research on bubbles.
There is a famous saying "bubbles tend to last far longer and grow much larger than most anyone expects".

The bubble is at the top when it is INCONCEIVABLE that prices can go down.
When surgeons quit their jobs in order to flip Porsches.

See the chart below:

Originally Posted by PushingMyLuck

The mistake everyone makes is giving reasons that were just as valid 5 years ago, when these cars were selling for $12k.
So, it's not low production number that caused prices to spike. The the 5 years bull market.

The bubble will deflate once the stock market corrects and the economy goes south.
That is what caused the inflation, and is what will cause the deflation.

Low production numbers were low when 3.2's were selling for $12k.
That is NOT the reason they are now high in price.

Originally Posted by PushingMyLuck

COLB, what you ignore are the macro variables at play.
The very same production numbers dictated an equilibrium price 50% lower just a few years ago.
Therefore, they are not the reason why prices have spiked since, and can not be a justification for current prices.
As we've discussed, "It's the economy, stupid" that is fueling the demand side.
Any asset price that rises 50% in 2 years with no change to the fundamentals is suspect.