Quote:
Originally Posted by anobserver
So looking forward, i think the current price movements wont be sustained. Unfortunately, when they revert to mean it will probably be because of reduced seller pricing power, a need for ready cash, and/or an inability to maintain payments on leased or financed vehicles. That may not be pretty, and the general social mood may mean a buyer drought if noone else wants to buy anything.
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imo, a lot of younger (younger than me) people have no idea what a recession is. in 1987 and about 1992 , in my memory there was a downturn and recession (the recession we had to have, thanks paul keating). i was a young man trying to ride racehorses for a living, and it was hard . not just for me, but everybody. not much money going around. were,ve had 30 years of of good times. this year the stock markets dropped dramatically in may, april? , and bounced, maybe a dead cat bounce?
anyway , i think it,ll go to poo ,and a lot of naive people will get desperate and need to sell, causing a switch in market values. just my view on things.