Wolf Richter on “This Week in Money,” at HoweStreet.com, recorded on May 30:
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Howdy. Vibrent is AOK. Sometimes we misbehave and AOK too. Youngins were ZIRPed for years and probably never heard about Car Manufactures discounts. In the olden days, you could keep your cash in the bank and drive a new vehicle with 0 % interest. Sign your name and drive away. Or cash back instead…….
I’m still trying to figure out what a thirst trap is.
Where the cokes cost $9?!
😆
With inventory building for many of the automakers something has to give.
When I was researching about trucks I had my eye on GMC them but Every forum was the same “F150 sucks, my cam phasers blew” “Ram sucks because engine failed” “GM has lifter issues, don’t trust them”. 2024 $70K-$80K brand new truck did not make it 10,000 miles before lifters blew out motor. Ah did you get the warranty? Buy the extended warranty? truck in the shop 8 months waiting on parts they say, while you keep paying the note. Americans are gluttons for punishment, they keep coming back large groups for reach around. I guess the machines look great on the outside and the starship enterprise monitors on dashboard make up for the constant failures. Toyoto Tundra pre 2021 are in high demand, some how they figured out how to keep their customers happy and out of dealership waiting rooms?
The Bank of Canada will always back the housing market. Even Justin Trudeau himself stated he doesn’t want home prices to fall.
Home prices across Canada excluding Calgary are falling and the Bank of Canada is currently not supporting their prices!
Punwasi quote: “If government’s could control prices, there would never be any asset crashes.”
We’ll find out this Wednesday if the Bank of Canada cuts interest rates. Condo prices are falling in Toronto so I’m sure they cut rates.
The challenge for JT is he isn’t qualified to make a comment on it.
Unfortunately the PP alternative would be far far worse.
JT has a room temperature IQ, I wouldn’t trust him to run a lemonade stand.
In Canada “suddenly” cottages are not considerd middle class asset any more, so the capital gains tax on the sale of a cottage gets increased.
That puts plenty of cottages on the market before the tax hits.
That lowers prices.
I saw two waterfront cottages sold in Southwestern Ontario about ten percent below asking few days ago.
The asking prices are lower then a year ago as well.
For regular housing things can get interesting when the usual 5 year fixed interest is up and goes to the current, higher rate. That will put some properties for sale, lowering prices.
What is a “cottage”, as in the official designation?
Last week, I used a popular car-shopping website to show my employees that you can get $9K off the MSRP of a base model 4-door Wrangler. On the other end of the scale, I noticed Grand Wagoneers were as much as $20K off.
Yea but prices are twice as much as a few years ago, so $9k and $20k off means they are still $20k and $40k too high, respectively.
The Bank of Canada didn’t pump the Canadian dollar upwards today or yesterday which would be a telltale sign of a rate cut. So no interest rate cut tomorrow on Wednesday by the Bank of Canada. I know how the Bank of Canada thinks inside-out.
This one aged like milk