Ferrari Mailing List: Re: CNBC

[Peter Rychel (dino308gt4]

They can't build enough homes here in Vancouver.

"...The average price of a townhome in Langley has increased by 23.8 per cent in the last year, from $326,234 in April 2015 to $403,788 last month.

'Guys in my office, 35 years, never seen anything like this. It’s crazy, but you’ve got to go with it,' said Dave Robles, a Langley realtor with RE/MAX..."

Yeah, no shit. Why jump off the gravy train while it's still speeding on through!

A raffle to get a spot in line! And these aren't fully-detached homes, they are all managed with HOAs (You get a commie on the board and you can't take a dump without getting permission from council).

This is the Willoughby area of Langley and there's nothing but townhomes and condos as far as the eye can see (so no lack of inventory. First phases of some developments got sold out before shovels hit the ground).

They are mostly 20 and 30-somethings getting their first homes who are the buyers. Man are they going to get burned when the shit hits the fan.

http://globalnews.ca/news/2727923/beyond-ridiculous-raffle-held-for-langley-development-lineup-spots/

“Beyond ridiculous”: raffle held for Langley development lineup spots globalnews.ca Vancouver's red-hot housing market is moving further into the suburbs, if a lineup to buy in Langley today is any indication.

Peter

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From: Ferrari <ferrari-bounces+dino308gt4=hotmail.com [at] ferrarilist.com> on behalf of Erik Nielsen <judge4re [at] gmail.com>
Sent: May 27, 2016 12:21 PM
To: PeterGT4
Cc: The FerrariList
Subject: Re: [Ferrari] CNBC

 

QE2, QE3, only so much Vancouver and San Fransisco real estate to go around…

On May 27, 2016, at 1:54 PM, LSJ via Ferrari <ferrari [at] ferrarilist.com> wrote:

1. More rich people now

2. Most new exotics suck

3. Speculators in the market who don't necessarily use the cars but are buying multiples at a time.

4. Currency devaluation

 

LSJ

central 

wines-spirits   est 1934

625 e street nw

washington, dc 20004

centralwines.com

facebook.com/CentralLiquors 

202-737-2800

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From: Fellippe Galletta <fellippe.galletta [at] gmail.com>
To: LS <lashdeep [at] yahoo.com> 
Cc: The FerrariList <ferrari [at] ferrarilist.com>
Sent: Friday, May 27, 2016 2:27 PM
Subject: Re: [Ferrari] CNBC

The thing that gets me is that I remember in the early days of the list a TR was about 60k, and an early Countach was about 50k....certainly no more than 80k for a good QV, maybe the early LP400 was a six figure car.

With no more being built at that point in the late '90s, how is it really any different then than now? These have all been used cars since '89-'91. 

Even if you skip over to around 2005, they still were low in price -- that's if you needed more time away from the end of those production runs which admittedly weren't even ten years old in the early list days (scary to think about now).

What was the enthusiast missing in 1997 that is so clear now? Mind you, we're talking about people like us not the average car enthusiast who only likes cars for speed and the simple quantifiable thrills.

You could argue that indeed these cars are all worth mega bucks...$200k TR, $600k Countach because the only reason they are really worth anything at all is for all of the intangibles. 

But if that's the case, then why did we have them for such super bargains not so long ago?

The common narrative I've read is that with the advent of new exotics that are far more video game like than one could imagine, there's been a run on older cars. 

However, that seems too extreme for me to believe.

What I think happened is this:

The softer, more casual enthusiast finally became hardcore the last few years.....and now there's been a spike in demand.

I've monitored ferrari chat, lambopower the last decade.....and I've noticed some guys who hated the older cars now do a 180. 

I wouldn't say they've become clones of REAL enthusiasts, but enough so that they effectively are, market wise. 

FG

On Fri, May 27, 2016 at 1:10 PM,  <clyderomerof4 [at] gmail.com> wrote:

CNBC  today had a Ferrari TR and Countach and a 1988 BMW M3 that were clean 

Out in a parking lot 

They said the TR was worth $100K this was a single mirror with the 

Draconian knock offs ! 

The Lamborghini was worth, now sit down $600K

And the BMW was worth $60K

They have lost their  minds 

The early TR had brakes from a BUICK Lesabre !

And LAMBO are worth more in parts ! At least the ones that didn't catch fire !

As for the BMW M3 which had a cylinder head gasket made of corn flakes and exhaust manifold issues that make the current air bag recall look like nothing 

What are people smoking ?

Pity the poor fools who buy at these prices 

In victory you deserve Champagne

In defeat you need it!

     

Scars are Tattoos with better stories !

If you follow all the rules

You miss all the fun! 

If you have no enemies, you have no character !

Clyde Romero    

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