Yup, me too. For a depreciating asset one has to know when to take a loss and move on.

Interesting story, in 2006 I was looking at houses in LI. Saw 2-3 new constructions and made reasonable offers. Builders wouldn't budge. Now over 2 years later, the houses are still empty and on the market. Of course, real estate prices should recover given enough time, but the builders will likely never see a big payday due to carrying costs.

 

Of course what you are saying is correct. I have contacted a few f car dealers and it is like I am talking to new people. Remember guys, a lot of their customers were the mortgage bankers and highly bonused wall street guys who helped get us into this situation in the first place. The dealers are dying for f car customers. Go to manhattan motorcars and they will give you 30-40k off a lambo, as their wall street customers have dried up. The economy is worldwide-despite what you think, profits are way down in f car land..

 

Lambo production is 3x what Ferrari is. California is sold out.
Lets keep posts to facts, not fiction or rumor.
Lambo's are selling new cars at steep discounts, those cars are also punched.
The used Ferrari market dried up, but all markets dried up. The new cars are still moving and production is going to be adjusted.