Crazy numbers for sales

https://www.cnn.com/2021/04/21/business/car-prices-record-high-short-supply/index.html

 

Great article thanks. Good old Econ 101 low supply+high demand=sticker shock

 

It’s pretty wild, trade-in on my 18 with 45k miles is about what I paid new. My friend’s ‘20 F250 could be traded in at a $7k profit

 

Looks like I bought my truck just in time. I still have my old truck to sell when I get time. I guess the price will just keep going up.

 

It's the same for houses around STL, people are offering $10K+ over listed price just to stay in the game. This is going to end badly like 08 I'm afraid.

 

It’s apparently the same with motorcycles. My brother bought a used Honda Shadow last spring, paid $2500 and rode it for a year without making any upgrades. He traded it in a couple weeks ago for $1800, now the dealer has it listed for a whopping $4800.

 

It's everything these days...

Not sure why it's a mystery to so many...your 401k/investments go up 25-40% in a year...you think your the only one ?

People suddenly have more $$ to spend - the moment someone realized they could get more - they ask more. Inflation is bound to kick in st some point - it might be 3 years, or 3 months - but it will happen eventually.

 

Demand, sure, but that’s not all of it. Last year it was pandemic work stoppages and trade- shortages on materials already more expensive due to tariffs. Now none of the companies can get chips. ‘Be nice if I could find someone to build a new car without a computer. I doubt I’d be the only buyer.