GT4 Market watch!

[hugh]

16 minutes ago, LeeM said:

An 'extra' $2-3k extra per month? Jeebus, what sorta mortgage would need that? 😳

Average Vic mortgage is 600-700k. 

Based on this many have seen an increase of circa 2k+ on monthly repayments and will continue to increase over the next few months. 

[LeeM]

1 hour ago, hugh said:

Average Vic mortgage is 600-700k. 

Based on this many have seen an increase of circa 2k+ on monthly repayments and will continue to increase over the next few months. 

Average? Jeebus 😳

I couldn't even fathom being that far in debt.

Just glad mine is under 150 and 2 years ahead 👍😁 

[wilson59]

2 hours ago, LeeM said:

An 'extra' $2-3k extra per month? Jeebus, what sorta mortgage would need that? 😳

 Oh well, people were warned about the rate rises and the honeymoon is over baby. If people live beyond their means by having big mortgages and everything on credit, then who is at fault there? 🤔

 Yeah everything has gone up, but what can we do about it? Fack all, so you pull your heads in and buy what you can afford or go without. Pretty simple really 

 

Caught up with a mate recently in Sydney his son bought his first house that need work his son  is mid 20s 1.7 million. Be thankful you call Adelaide your home digger 

[LeeM]

30 minutes ago, wilson59 said:

Caught up with a mate recently in Sydney his son bought his first house that need work his son  is mid 20s 1.7 million. Be thankful you call Adelaide your home digger 

Oh don't worry, I am very thankful I don't need to pay exorbitant prices...or live in Sydney 😅

If people can afford it, more power to them. It's those who live well beyond their means by racking up huge debt without contemplating the 'what if's' is what I'm on about. 

[sleazius]

6 hours ago, cafe_racer said:

I have a masters in finance and economics. Fair to say I have no idea where things are heading. Anyone who says otherwise must be better educated than me or have skin the in game aligned to their point of view. 
 

Its not that you have no idea where things are heading, its just that the game has been rigged so that what should happen based on all available evidence doesn't anymore. The market has been subverted by the very few to the detriment of everyone else. The GFC proved that and it has only gotten worse since then.

On the SME level I can only tell you what is happening in the mortgage belts of Sydney where my businesses are based - and that is people are pulling back, not everyone, but enough to be noticeable.

[LeeM]

13 minutes ago, sleazius said:

 The GFC proved that and it has only gotten worse since then.

 Not to mention the past 3 years of the plan...err...batdemic.

But we don't talk about now sssssh 🤫 Carry on 👍

[cafe_racer]

46 minutes ago, LeeM said:

Oh don't worry, I am very thankful I don't need to pay exorbitant prices...or live in Sydney 😅

If people can afford it, more power to them. It's those who live well beyond their means by racking up huge debt without contemplating the 'what if's' is what I'm on about. 

I think the issue is to live the basic life their parents had kids now need to “live beyond their means”. The current generation is the first which will have lower economic prosperity than the one before them.  
 

their parents probably got a “fix er  upper” home for 6x their annual salary. That figure is now 20x. 
 

clearly the only way to restore the balance is for me to buy this 718 gt4 clubsport 😂 

[Shedpest]

22 minutes ago, cafe_racer said:

clearly the only way to restore the balance is for me to buy this 718 gt4 clubsport 😂 

And for @LeeM to buy a 996

[jakroo]

7 hours ago, cafe_racer said:

I have a masters in finance and economics. Fair to say I have no idea where things are heading. Anyone who says otherwise must be better educated than me or have skin the in game aligned to their point of view. 
 

 

Don't sell yourself short, you do know, you just need to apply all that theory you've accumulated (and practical knowledge given it's a masters) and you'll have an educated insight in to where we're headed.

43 minutes ago, cafe_racer said:

I think the issue is to live the basic life their parents had kids now need to “live beyond their means”. The current generation is the first which will have lower economic prosperity than the one before them.  
 

their parents probably got a “fix er  upper” home for 6x their annual salary. That figure is now 20x. 
 

clearly the only way to restore the balance is for me to buy this 718 gt4 clubsport 😂 

There you go.....applied economic 🙂  Good job, give yourself a payrise and you can afford a few more options on the GT4.

[wilson59]

23 minutes ago, jakroo said:

Don't sell yourself short, you do know, you just need to apply all that theory you've accumulated (and practical knowledge given it's a masters) and you'll have an educated insight in to where we're headed.

 

Financial Hell . Lol

[DJM]

4 hours ago, hugh said:

Average Vic mortgage is 600-700k. 

Based on this many have seen an increase of circa 2k+ on monthly repayments and will continue to increase over the next few months. 

I saw a stat recently, something like half of all people with a mortgage have never experienced a rate increase…..ever.  

In my business (custom homes 1.5 - 10M+) lots of people still wanting to build but the cost to build is now higher than many people realise and their capacity to borrow has diminished so that’s causing some to “wait and see what happens”.  

There were a lot more doomsday predictions when Covid hit yet  Porsche prices went UP 🤷‍♂️ Keep buyin’ em and drivin’ em otherwise you’ll die waiting for a bargain…….

[Rick V]

It’s simple ….. buy Porsches at 6 O’clock, sell them at 12 O’clock…. Problem solved!

[jakroo]

9 minutes ago, DJM said:

There were a lot more doomsday predictions when Covid hit yet  Porsche prices went UP

As did a lot of stuff all around the world for no valid or precedented reason other than billions and billions of government stimulus which is now starting to drive inflation across the world and this stuff has a long biting tail on it.  It'll take a long time to resolve and should we return to some sort of normal (country and global inflation sitting at 2-3%) this will be some time and pain (ie tight money and recession spending) away.

If you're proper cashed up (genuinely liquid 2+m in cash in hand and unencumbered within 24 hours) then that's great but most people aren't and given most = majority of spend, then the money in economy shrinks.  Rocket science is simply mathematics by computer, economics and human behaviour are far more nuanced and complicated and this is why no one can tell you how bad it'll be other than 'bad'.

This is likely to become another recession we had to have.  UK is already there as is USA and China, Japan has been there in some form for just about forever - all 4 are major economies and the drivers of the world.  Fingers crossed it's a relatively shallow and quick one for us Aussies which is what we typically experience.

 

Anyway, back to the GT4 market ......

[LeeM]

2 hours ago, Shedpest said:

And for @LeeM to buy a 996

😅 I deserved that...prick 🖕

[wirthO]

10 hours ago, jakroo said:

You're an hour and a half behind me, so you've got more time than me till hell is here 🤣

There are hundreds of thousands of mortgages that are yet to get beyond 3% where the market rate is 6%. Most people can't ramp up their income by 2-3k a month almost overnight just to cover the increase in repayment for home loan, rent, car loan, cost of living etc

And we are at war with China, you just don't realise it yet.  The whole world has been relying on China and it's billion person economy for years. They've stopped their crazy consuming and productivity so the world is now getting it up the bum.

Our federal government and others like it will never run out of money (keep printing it and a quick update of the spreadsheet on how much is in circulation) but they can reduce their liberal spending which is what they are doing.

They can increase or maintain taxes to reduce available money which is what they're doing.

They can reduce our discretionary spend by absorbing the savings which is what they're doing.

They can increase the fear of the future outlook to further reduce discretionary spending which is what they're doing.

Inflation at the highish level and sustained will cause increases of cost of living, leading to reduced ability to feed and accommodate us with the same income so there's pressure on wages. The biggest employer, small businesses, typically use Awards and these will have a 5-7+% increase later this year which can't be absorbed by the ever diminishing business bank account so either prices go up (increasing cost of living) and/or reduced headcount (more unemployment or even less in our personal bank account), both of which means less spending. So business suffers further.

What will reduce the depth of hell is our resetting of what we need and spend our hard earned on. But we've had unrestrained spending for 10-12 years so the habit is hard to break.

Did I say hell? I meant purgatory which is even worse cos we won't know which way is up ☺️

Got cash and want a new Porsche... wait, it'll be cheaper soon!

Farrrrrrrk.... anyone want to buy a GT4RS?!? 😅

[sjm]

10 hours ago, cafe_racer said:

I think the issue is to live the basic life their parents had kids now need to “live beyond their means”. The current generation is the first which will have lower economic prosperity than the one before them.  
 

their parents probably got a “fix er  upper” home for 6x their annual salary. That figure is now 20x. 
 

clearly the only way to restore the balance is for me to buy this 718 gt4 clubsport 😂 

Went to a wedding last week amongst the grapes at Mclaren Vale, lavish, choreographed, very Kardashian in its presentation. Young couple of course, she’s a stay at home mother and he is a sparky. $85k plus😳oh and also have a 3 year old. Over committing/ compensating, much. 

[DJM]

7 hours ago, wirthO said:

Farrrrrrrk.... anyone want to buy a GT4RS?!? 😅

150k cash 😂. And that’s a generous offer given the world will end shortly.

[smit2100]

3 hours ago, sjm said:

Went to a wedding last week amongst the grapes at Mclaren Vale, lavish, choreographed, very Kardashian in its presentation. Young couple of course, she’s a stay at home mother and he is a sparky. $85k plus😳oh and also have a 3 year old. Over committing/ compensating, much. 

Could it be the sparky has had it good up to now and is running two sets of books and that the cash dividends from the second set of books are  managed by the  home office finance minister. The problem being the relatively new  finance minister was only schooled in single entry accounting principles to balance the books based on their special interests.

With respect to the over committing,  whats the go forward prognosis on the second set of books.  Plus if they need to go to a bank anytime soon for a loan / refinance, "which bank "besides the bank of mom and pop has  the income from cashies section on their loan application forms again. 

 

[edgy]

On 12/03/2023 at 08:28, twro said:

Any predictions where the final bid ends up?

I’m told €90-100k is common even for the first 981 CS in Europe now, as they’re very sought after and quite scarce, this is as new… so I would have to guess it should be in the mid 200’s at min. 

[Yeatesy]

I avoid watching or reading the news to avoid all the negativity.

So now that I’ve read this insightful thread I’m off for a drive in my 911 which I bought during the peak of covid to remind myself that life is for living. 

[jakroo]

1 hour ago, Yeatesy said:

I avoid watching or reading the news to avoid all the negativity.

So now that I’ve read this insightful thread I’m off for a drive in my 911 which I bought during the peak of covid to remind myself that life is for living. 

Just as long as you paid over the odds for it 😊. Make sure you fill it 98 and maintain second gear so fuel economy is atrocious. Spend your way in to happiness. 

[sleazius]

17 hours ago, DJM said:

There were a lot more doomsday predictions when Covid hit yet  Porsche prices went UP 🤷‍♂️ Keep buyin’ em and drivin’ em otherwise you’ll die waiting for a bargain…….

Ain't that the truth. I was convinced things would stabilise yet the government and reserve bank poured unlimited money on the fire and here we are.

[reedminor]

1 hour ago, jakroo said:

Just as long as you paid over the odds for it 😊. Make sure you fill it 98 and maintain second gear so fuel economy is atrocious. Spend your way in to happiness. 

Hooray back to normal programming 

[edgy]

On 11/03/2023 at 18:01, cafe_racer said:

I’ve zung some bids on it. Looks a great thing. 

I note this didn't sell under the hammer, where did the bidding stop do you know? I can't see it since the listing has closed. 

 

[cafe_racer]

Chasing $270 for it. Not bad buying.