What did ya pay…..MSRP, ADM Poll

[Littlefx4]

In any case, I was just curious what people do for a living?

I work…

and how they justify ADM.

I don’t & won’t indulge in it…hope that’s to your satisfaction. If not, you’ll get over it.

 

[GCATX]

If things in the world would stay status quo then you would be correct. The economy is ever-changing so what we've seen for the last year or two we may not ever see again. Sure Ford could ask $100k next year but what happens when the economy is in the tank and most people arent buying like they had the past 2 years? Heavy discounts that will bring the prices right back down. The housing market is already seeing less activity and that trend will continue as feds increase rates periodically. There are articles out about how auto loans are also falling behind. Just another example of people over extending themselves to get what they want (not what they need). If you live in the now and dont consider the future you're in for a rude awakening. Go burn through all that money in the bank and those "fools" may be the ones having the last laugh.

I am in a real estate related industry. I read today that sales have slowed to pre-chinavirus levels, i.e. 2019. The article also stated that prices have not come down, due to little supply and inflation.

I really wish I had a crystal ball where this will all end up, best we can do now is make guesses based on history, but even if they raise rates another 2 whole points, we are still at relatively low rates. The crazy 2% car loans and 2.75 home loans won't be back for a long time, we were spoiled to have them so long. People will always need a place to live, regardless of owning a home, renting, or having the Gov pay your rent.

What kills me, I read comments from people (not on here necessarily) that mortgage rates going up will put people on the streets that bought a house at the market peak. As if people were still doing variable rate mortgages since the 2008 crash. lol. People really are that dumb.

 

[RamseyF]

Yes they are that dumb.

Let's pray they don't get to where they were back late 70's into the most of the 80's. Mortgage rates were 8-14% for 30 yr fixed. It'll be Armageddon. I am a residential builder and the small local community bank I deal with said most of their clients last year were all refinancing for 10-15 year mortgages. He also told me most of them do not plan on buying another house until they retire or they can sell and buy new with proceeds from sale. They don't want to deal with another crash and or the higher interest rates that were coming. Thats exactly what I did. 15 yr fixed for 2.5% planning for retirement in 8 yrs.