SD, While I agree wholeheartedly, the current RE market is on the high end, and I would not get in (I agree with you there) The article you posted to rebut BigRed about 0% down was only applicable to the low-income/'affordable' housing contingent: "To qualify for the new program, buyers must have a household income of up to $65,850 a year for a one-bedroom unit or up to $92,430 for a two-bedroom apartment." So BigRed's assertion that mainstream banks are not offering 0% down to the masses was *not* disproven by your article. Again, not saying the market is not overheated, but every condo development usually has to have 'below market/affordable' units set aside for regulatory/political/feel-good reasons, hence the 0% down. You are also correct, 0%-5% (what's the difference) and if 5%-10% is the norm, I agree - that's another troubling data point. I hope you find this a respectful and non-personal attack/response to your post.
I do know it was an income-targeted market. To me that makes it worse to help that group "lever up". However, I will also point out that at a $92,000 household income level, that would actually put this squarely at the "masses" in terms of income for Vancouver metro area. Median total income, by family type, by census metropolitan area (All census families) I do appreciate the fair rebuttal and constructive tone, even if I disagree with the conclusion or interpretation of the articles. Always happy to debate these things.
Fair points SD, I re-read the article, and I must concede fully to you. Your point is valid and correct. My apologies on my incorrect assumptions here. Furthermore, I agree with you that subsidizing folks on the lower scale often has disasterous consequences. Be well.
Still going though autotrader, 18 months later and I'm still curious about these prices. Are these cars actually selling near these pricing levels ???? Image Unavailable, Please Login
Is it even possible that this 1980 308 sold for six figures ??? Anyone know if any of these cars actually are selling ? Image Unavailable, Please Login
I think you might be looking at John Scotti inventory...they always overprice and settle much lower--I really doubt they're selling at that price.
Well then. I have available a 95 Diablo, black on tan with 15k miles ( fully documented) for 300k. That's a asking price. I told the seller he was a bit high..is he?
You got to be high to shell out 300k for pretty much any car these days. For a third of that you can get something with a warranty and still have more power than pretty much anyone can handle or need. Plus no one has farted in the seats before.
So I'm not losing my marbles about these prices There is so much stuff at under 100k that is so usable. I just looked at the Audi rs3 for 65k plus tax, and it comes with a warranty. Some of the stuff from Camaro, to Mustang and BMW etc ...is mind boggling .....and the quality today - forget it. I'm stumped to what cars have become in just 5 yrs time
Well we both know that a 599 aperta won't sell for that number! And of course they're asking for usd not cad! Rare car or not they won't sell for these prices there's just not a demand for them. 5 for sale on DuPont 1.3 is the lowest. Nuts pricing!
Agreed, it's only worth what someone is willing to pay! From what I've seen so far this year is price decreases on most cars...512TR, Testaroosa's, F430 Auto, 360, 599's in the 180's(cdn). I think it was said above that the big rush to buy last year is way over and now cars are sitting and people that are trying to sell for last years prices are going to have to come to reality! Just my two small pieces of copper!
I believe it is about a 20-25% price correction from the peak time especially when it is not a rare car.
Agree completely! Finally a thread that is not dreaming of last year's prices now!! Full disclosure I am looking for a 512, F550 here and overseas so I am well aware of the market! Cheers Sent from my BBA100-1 using Tapatalk
I think 20% is a good estimate.. price decay seems to have hit even rarer beasts like gated 430s, 550s etc. Interesting that ferrari shops are still asking top dollar in most cases ...
