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So I guess it is common knowledge that used car prices are softening.

Been getting weekly mailings from my local dealer on 3 GMC Canyons 2019, 2020, and 2021 for sale. Not sure why they are sending them to me, but at any rate they have been reducing prices by $900-$1,000 $1,500 per week, and the 2019 similar to mine is now listed at what they claimed they would give me on a trade in last year for a full size
(unsolicited offer).

May 11
"This 2019 GMC Canyon has dropped $1,000"
May 5
"This 2019 GMC Canyon has dropped $930"

$800 billion evaporated recently on crypto.

In one of our hottest real estate markets, a neighbor who is an agent said they had no offers on a house that a month ago would have had multiple offers (side note, some folks still don't bother with an asking price offer, but maybe they should reconsider!).

Be interesting to see where we are going with this.
 

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In other news. Bitcoin crash. Thank god, but I doubt it will be permanent.

Any PC gamers can finally buy a GPU for sane price. And prices will likely drop further in the next month or so.
 

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2019 Colorado WT, CCSB, V6 4x4
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I fear given the direction we are headed, things will get worse, before they get worse.

Foreclosures are creeping up along with interest rates. The interest rate increased (from 3.2 to 5.2, or more by now) adds $500 to an average mortgage payment.

Yesterday, on the same day when gas prices literally hit an all time high, Joe Biden reduced even further the ability of the US to access our own oil reserves. Why? Our strategic petroleum reserve, which is there in case we need to fight a war, is being sent to Europe. It will no doubt be replenished one day at these sky high prices.

Iran is studying the most effective way to hit us with an EMP, while the US negotiates with them and wants to buy THEIR oil.

I could go on.

鈥ther than that, everything is fine
 

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Rising interest rates soften the prices of things like cars and homes which are typically bought on loans. That should be fairly common knowledge.

Vehicle prices were softening a bit before the rate hikes. There are still supply and labor constraints in the auto industry, but many issues been resolved. It's hard for dealers to expect to get 2nd sticker on a pickup when there are now a handful of them on the lot, and the dealer down the street does too. GM has incentives to move vehicles, and they are better than they were last year.
 

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2018 z71 3.6 long bed
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I fear given the direction we are headed, things will get worse, before they get worse.

Foreclosures are creeping up along with interest rates. The interest rate increased (from 3.2 to 5.2, or more by now) adds $500 to an average mortgage payment.

Yesterday, on the same day when gas prices literally hit an all time high, Joe Biden reduced even further the ability of the US to access our own oil reserves. Why? Our strategic petroleum reserve, which is there in case we need to fight a war, is being sent to Europe. It will no doubt be replenished one day at these sky high prices.

Iran is studying the most effective way to hit us with an EMP, while the US negotiates with them and wants to buy THEIR oil.

I could go on.

鈥ther than that, everything is fine
I bought my house new 18 months ago. 3.25.
9 months ago I refid 2.50. $145g in equity.
Today. I've got $255g and the rate is 5.25.

Those arm mortgages that F'd the economy in 07. Are making a comeback. We can expect a repeat.

The fed rate is up. 75%. People are slowing down on spending. That outta get inventories back finally. And prices to drop.

As for the rest. Putin has every intention of F'ing the entire world. We're still trying to recover from covid.

This morning. India is apparently the largest wheat export for the world. And they plan to start hoarding. Prices are going up.

The world relies on the world. And what happens. Happens around the world. The entire world is effected.

It's not one country experiencing pain.
It's the entire world. Some countries make it worse though.
 

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Those arm mortgages that F'd the economy in 07. Are making a comeback. We can expect a repeat.
The number of ARMs has increased from 5.20 to 5.37% as a percentage of total mortgages as of the end of April. That's not really a significant increase, nor is it very worrisome--yet. The lending requirements are very different (more stringent) as compared to the pre-recession era of the mid-2000's.

On all other points, yes. Our success depends on global partners whether we like it or not, and authoritarian, protectionist regimes are no longer useful.
 

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I bought my house new 18 months ago. 3.25.
9 months ago I refid 2.50. $145g in equity.
Today. I've got $255g and the rate is 5.25.

Those arm mortgages that F'd the economy in 07. Are making a comeback. We can expect a repeat.

The fed rate is up. 75%. People are slowing down on spending. That outta get inventories back finally. And prices to drop.

As for the rest. Putin has every intention of F'ing the entire world. We're still trying to recover from covid.

This morning. India is apparently the largest wheat export for the world. And they plan to start hoarding. Prices are going up.

The world relies on the world. And what happens. Happens around the world. The entire world is effected.

It's not one country experiencing pain.
It's the entire world. Some countries make it worse though.
The US can just grow more food it's really not a big deal. If anything, it helps the agriculture industry.

The real problem in a food shortage will be lack of truck drivers. It's at a point where transportation should start getting regulated again to prevent a crisis. We also need to focus on making driving trucks a more legit profession like it used to be. I guess some ideas

  • Add stake (ownership) requirement to being independent contractors paid by 1099. Basically, this means the driver must be employed unless they own their truck.
  • Remove hour limits for drivers.
  • Allow drivers to refuse to drive at any time for any reason. Retaliation (firing them or adjusting schedule) would be illegal. If it's a vehicle safety issue, then the truck and/or trailer cannot be used until it's inspected and deemed safe.
  • Increase CDL requirements to prevent oversaturation.
Those rules would hopefully increase driver retention. It will increase transport costs drastically, but the alternative is no transportation.
 

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2018 z71 3.6 long bed
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The US can just grow more food it's really not a big deal. If anything, it helps the agriculture industry.

The real problem in a food shortage will be lack of truck drivers. It's at a point where transportation should start getting regulated again to prevent a crisis. We also need to focus on making driving trucks a more legit profession like it used to be. I guess some ideas

  • Add stake (ownership) requirement to being independent contractors paid by 1099. Basically, this means the driver must be employed unless they own their truck.
  • Remove hour limits for drivers.
  • Allow drivers to refuse to drive at any time for any reason. Retaliation (firing them or adjusting schedule) would be illegal. If it's a vehicle safety issue, then the truck and/or trailer cannot be used until it's inspected and deemed safe.
  • Increase CDL requirements to prevent oversaturation.
Those rules would hopefully increase driver retention. It will increase transport costs drastically, but the alternative is no transportation.
Can't grow food without water and fertilizer. Water isn't available. And most fertilizer comes from other countries sounds like.

Transportation already has too much govt regulations. As for drivers. Who wants to live like gypsies?

Now if the gooberment would regulate home every night.

But there's NO driver shortage. The truckstops are full 24/7 of drivers waiting to go somewhere. If there was a shortage those lots would be empty.
 

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Can't grow food without water and fertilizer. Water isn't available. And most fertilizer comes from other countries sounds like.

Transportation already has too much govt regulations. As for drivers. Who wants to live like gypsies?

Now if the gooberment would regulate home every night.

But there's NO driver shortage. The truckstops are full 24/7 of drivers waiting to go somewhere. If there was a shortage those lots would be empty.
The problem isn鈥檛 a lack of drivers it鈥檚 a lack of cheap drivers.

Some companies are dragging their feet and simply won鈥檛 pay their truckers more than 50k/year. They would rather miss deleiveries than pay someone more. The few drivers they get will likely quit in a few weeks and those drivers will eitheir move to a higher paying job orrr simply quit driving. Lot of truckers on these forums who have probably been down this road themselves.

I myself know plenty of people who have driven since before I have born. They have quit these past years literally because money and conditions. All of them will happily go back if it improves.

If we deregulate CDLs further and make them easier to get then we are just going to make this problem a lot worse. We need the older CDL drivers not high schoolers.
 
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