This summer, used Volvo prices will go...

[matthew1]

In a strange turn, used car prices have climbed 17% in 17 months.

https://jalopnik.com/rising-used-car-pr ... 1846472285

[abscate]

Well, none of us fared too well as market fortune tellers

Used car prices up 40% from May 21 to May 22

[matthew1]

Yea I weighed job loss potential heavily in my calculations, and the flood of stimulus money too lightly.

I've started to hear car dealer ads on the radio again. Inflation report for August is bad, and more interest rate hikes are coming soon.

If I dealt cars I'd have dumped my inventory a couple months ago. The car value cycle is coming down, like the laws of economics dictate, and history shows is normal and expected.

[matthew1]

Anyone who voted "Up" in this poll give yourself a hand, especially if it was not a guess.

[abscate]

I just can't see prices staying the same. Nobody will have money. There will be evictions and mortgage defaults/foreclosures left and right. Unemployment in the US will hit highs we haven't seen for almost 100 years.

Many sellers, few buyers.

I don’t think there will be as many evictions due to interventions. Bankers are going to get their nuts trimmed along the rest of us, because we are all in tight on this

Prices will collapse to basic transport type pricing. Running car, $500- $1000.

I was right, just off by a factor of 5x

[matthew1]

[abscate]

What did I miss? Massive disruptions in the supply chain which meant no new cars, and this drove up good used car prices. This pulled up basic transportation prices to $2000 or so.

Economics is the science of looking back and saying “ that’s why that happened”