Current economy,housing market,classic car market-------Buyers Market?

Houses are selling faster this last year than I've seen since '08...prices are moderately up as a consequence. I think new home construction has gone up significantly and indirectly dragged used homes up slightly.

You could buy a castle here for what somebody said a house in Boston is going for.

 

House prices in Winnipeg have softened over the past year or so after rising at annual double digit % rates for several years. The area I live in has been one of the better ones for rising prices and fast sales. I can easily get more than 100k above what I paid nine years ago.

One very nice two storey home on my bay was for sale for about two months. I believe the owners were looking for a grand slam home run and weren't in a rush to sell. Another one on my bay sold within a week.

Two former neighbors sold a few years ago within three days for more than asking price.

Haven't kept up with classic cars prices around here as much, except that Buicks are few and far between.

Manitoba has a very diverse economy which helps immensely. When one sector sags, another one is growing.

 

You are right Tom. Car market is very soft. Took 2 cars to Mecum Indy, brought 1 back. There were very few buyers. A lot of dealers buying the deals. The economy is terrible also. One other thing to consider, is a lot of people have been burned on these old cars. There is so much dolled up junk it is not even funny. I think its a good time to buy the right car, at a great price....... If you got the dough!

 

There is a lot of prime time tv shows about classic cars though so interest must still be off the charts. Jay Leno, counting cars, car matchmaker, fast and loud to name a few.

 

Do you think the lack of buyers is partially due to all the increased venues Mecum added? Indy used to be a premier event, now there's a Mecum auction in seemingly every city.

The economy has been bad my entire adult life. It was horrible when I graduated high school in 1982 and has limped along since IMHO. Without going into politics I think it's due to globalization with a subsequent loss if jobs, automation with a subsequent loss of jobs, with a dramatic increase in workers ~ women, retirement age, legal and illegal immigration flooding the job market and stalling wages. At the same time taxes and prices steadily rise turning the middle class into the working class.

 

yes to everything you said! Dana also raised commission to 10% on each end. That seems too stiff to me, and is not helping anything.

 

Great idea! Business is a bit slow. Add more venues, to over-saturate the market so each one has fewer vehicles, thus fewer attendees. So, let's raise our commissions so we get even fewer buyers and sellers.

 

Yes to all. Common sense to the culture whose fathers and grandfathers built this country and everything great about it. But the elites have something else in mind..... if we keep letting them.

 

To appreciate just how good we have it in the US compared to other world countries look at our relatively low tax rates:

The US total tax revenue equaled 24 percent of gross domestic product (GDP), well below the 34 percent average for developed countries.

http://www.taxpolicycenter.org/briefing-book/how-do-us-taxes-compare-internationally

In terms of the US relative economic come back since the 2008 great world recession, look at Europe. Those countries would love to trade places with us.

 

I'm in agreement with that,but we somehow have to get our currency stabilized and it is easier said than done. It is impossible for American businesses to forecast projections when our money value is at the mercy of world markets. We are celebrating our independence on the same week that England just kicked us in the rear again. I do not have any viable solution to our national "dependence" problem,so I am not much help.

 

Well in a way UK is making that choice by leaving the EU and becoming a sovereign nation again like we are. Meanwhile the elites in our government want us to follow the path of Europe by giving up our sovereignty, exceptionalism and embracing their globalism and letting international elites rule over us. I say America first forever. Saying we are the tallest men in the room at a migit convention isnt saying much. We can do better, much better by returning to our roots.

 

The housing market here is off the charts. We can't handle any more growth. I keep saying I will sell my house and retire, and the damn thing keeps going up 10 % every year. It's a good problem to have, I know, but the traffic here is horrible.

 

x2

 

I don't believe this includes state and local taxes though.

 

Yes, it does.

"In 2012, US taxes at all levels of government represented 24 percent of GDP, compared with an average of 34 percent of GDP for the 34 member countries of the Organization for Economic Co-operation and Development (OECD).

 

Jim,

Don't those taxes in Europe and Canada also cover their healthcare costs?

 

They get to spend a small amount on military because they know we will protect them. That's a very big savings .

 

Housing market in Eau Claire and Green Bay Wisconsin is strong right now for sellers.


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I stand corrected sir. :TU:

 

Interesting facts Jim. I know I pay at the 28% rate, with deductions which I now do not have, I lowered that to 20% then 9% State 1% city tax, Phone tax, long distance tax, line use tax, property tax,utility tax, trash, cable taxes, gas taxes, sales taxes for sure but it seems like a lot I am pretty sure its close to 49 % of my pay when all is said and done. Now because my wife retired with no SSI income we should be ok but no mortgage, no kids just charitable donations to offset. We have yet to see how its going to work out but our income was cut by more than half and I may still be in the 28% bracket at the bottom. Maybe it just seems like I pay a lot. Not the most for sure but man it sure feels like were paying for everyone else's bills.