Inflation is rolling over

[TerminatoRS]

Starting to see pricing drop. Seeing lightly used current gen Corvettes in the low 80's pop up.

That must be unique to the C8s. C4-C6 prices are still all over the board. Some just plain don't make sense to me. lol
Decent C4 - $12-18k
Base C5 - $16-28k Z06 - $22-45k
Base C6 - $22-34 Z06 - $38-60k

C5Z seems to be the sweet spot and best bang for the buck from my perspective.

 

[BOOGIE MAN]

Affirm. Did today.

Market was running back to 4200 without a reduction in CPI.

I think we’ll get there again easily.


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Keep me in mind when you make the switch back to G when you see another fall approaching. Shoot me an @

 

[Klaus]

I bought a shitload of bonds yesterday and am glad that I did. The unfortunate thing is that the better than expected inflation data is a signal that we are entering a recession which will be here by mid 2023. Inflation is going to continue to fall dramatically.

U.S. Inflation Eased in November, CPI Report Shows

U.S. inflation eased significantly to 7.1% in November, its slowest pace since the end of 2021, the Labor Department said Tuesday.

www.wsj.com

 

[black4vcobra]

I bought a shitload of bonds yesterday and am glad that I did. The unfortunate thing is that the better than expected inflation data is a signal that we are entering a recession which will be here by mid 2023. Inflation is going to continue to fall dramatically.

U.S. Inflation Eased in November, CPI Report Shows

U.S. inflation eased significantly to 7.1% in November, its slowest pace since the end of 2021, the Labor Department said Tuesday.

www.wsj.com

Aren't we already in a recession?

If there is an upside for me, that means mortgage rates should go down. We started looking at houses about a year ago and eventually bought in May. Rates on 30 year mortgages went from 3 to 5% just in that time alone. Mine starts with 4 but I'd love to have it start with a 2 like it was in 2021.

 

[Klaus]

Aren't we already in a recession?

Technically we are but this is subjective. Demand and employment have remained very strong which will not be the case 6 months from now.

 

[13COBRA]

Aren't we already in a recession?

If there is an upside for me, that means mortgage rates should go down. We started looking at houses about a year ago and eventually bought in May. Rates on 30 year mortgages went from 3 to 5% just in that time alone. Mine starts with 4 but I'd love to have it start with a 2 like it was in 2021.

That won't be anytime soon.

 

[Klaus]

Speaking of mortgages has anyone assumed another mortgage in conjunction with a home purchase? Agency mortgages are assumable which means that you can transfer them to someone else. So if you are bidding on a house and the seller has a 2% mortgage you can buy their mortgage as part of the transaction.

 

[black4vcobra]

That won't be anytime soon.

I know. We may never see high 2s again on 30s.

I'd be happy if it ever gets back to high 3s but it's still a couple years out I'd guess.

 

[MG0h3]

Speaking of mortgages has anyone assumed another mortgage in conjunction with a home purchase? Agency mortgages are assumable which means that you can transfer them to someone else. So if you are bidding on a house and the seller has a 2% mortgage you can buy their mortgage as part of the transaction.

Wasn’t aware of that. I doubt most realtors are either.

I’m sure there’s more money in originating a new mortgage every time.


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[TerminatoRS]

Speaking of mortgages has anyone assumed another mortgage in conjunction with a home purchase? Agency mortgages are assumable which means that you can transfer them to someone else. So if you are bidding on a house and the seller has a 2% mortgage you can buy their mortgage as part of the transaction.

Never heard of this, but am intrigued. You assume their rate? Pending credit score and all that I imagine.

 

[AustinSN]

Never heard of this, but am intrigued. You assume their rate? Pending credit score and all that I imagine.

Yeah same here. That's really interesting.

That seems like a godsend for the buyer and the seller, assuming the seller doesn't carry the risk. Messing with the calculator, that's a difference of $300,000 over 30 years between todays rates and what I have on my place.

Also, how does it work if the seller has a large amount of equity and the buyer needs a greater loan amount? Just take out a second for the additional amount?

I imagine you'd still have to pay an origination fee to the lenders of the original mortgage.

 

[Klaus]

Wasn’t aware of that. I doubt most realtors are either.

I’m sure there’s more money in originating a new mortgage every time.


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Think about this: For the majority of Americans their largest liability is in fact their most valuable asset. Shit is weird.

 

[Deceptive]

Lol! Biden’s “transitory” inflation transitioned right into a recession. Lol! What a ****ing POTATO!

Too bad he wouldn’t take a ride through Dallas in a drop top with Lee Harvey Oswald as his head of security and then go watch a movie with John Wilkes Booth.


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[Tezz500]

Technically we are but this is subjective. Demand and employment have remained very strong which will not be the case 6 months from now.

 

[VegasMichael]

@Klaus
What kind of bonds did you buy? You don't have to say if you don't want. I'm the first to admit I stay pretty secretive about what I do.

 

[Klaus]

@Klaus
What kind of bonds did you buy? You don't have to say if you don't want. I'm the first to admit I stay pretty secretive about what I do.

USTs via ETF

iShares U.S. Treasury Bond ETF | GOVT

The iShares U.S. Treasury Bond ETF seeks to track the investment results of an index composed of U.S. Treasury bonds.

www.ishares.com

 

[divernb]

Yeah, I’m starting to get calls for a GT500, but I keep telling them I’m not paying over sticker….

Been waiting, seen pricing on non-CFTP models in my area creep from 97-99k in late September, to 85-87k.

 

[biminiLX]

Think about this: For the majority of Americans their largest liability is in fact their most valuable asset. Shit is weird.

Wow did not know that either! One of my best friends a realtor.
We locked in 1.95% just before the rates ballooned and dodged a bullet.
-J

 

[MG0h3]

Think about this: For the majority of Americans their largest liability is in fact their most valuable asset. Shit is weird.

You’re talking about Crypto right?


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[Deceptive]

You’re talking about Crypto right?


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I know he isn’t talking about the houses that friends of mine have upgraded into like 4-5 times every time they get 2-3 raises and are now upside down in, where I have stayed in the one I bought when I made 1/3 of what I make today and is still 300% over what I paid in terms of value? Lol


My math may be off but, I think a quarter midget is a garden gnome.