I won't agrue that we are headed toward difficult times, but myself and most of my associates and friends are looking foward to the downturn it is a chance to acquire real estate, business assets/inventory, ... at discounted prices (for example we are in the middle of negotiating a bank owned property which was purchased a few years back for $1.1M - we offered $700K and they countered immeditiately at $730K - this property will be worth $1.1M again in the next ten years).

In regards to the RS(s) and other exotics, the mortgage brokers and others with newly acquired wealth who are struggling have already dumped the toys (I know of two mortgage brokers who dumped their $1M car collections but in the end they still ended up walking away in the black).

If an RS becomes available at MSRP or below great - Just buy more it lowers the unit cost overall when averaged just like stocks!

In the end I hope we have a soft landing and fewer people end up becoming affected.

 

Unfortunately I think the situation will be much worse than you are anticipating.

 

Sorry I got us off on this tangent as its f'n depressing and stressing. This cycle down will be longer and deeper than surface reports currently show. Those is the econ "know" realize that there are some very difficult times ahead. I don't care how much the fed drops the rate etc. etc., its not going to correct or save the complex and convoluted financial house of cards that have been built on some very interesting financial products that attempted to spread risk to near nill...when those start to tank...and they will...its going to hurt all across the board. There will be some bargains out there for sure tho. Hope our liquidity is such that we can take advantage. Good luck to you all.

Now back to our regularly scheduled programming.

NFW am I going to spend $198k on a GT3RS!@!!!!!! and that's final!!!!!

 

^^ Thank you very much Mr. Brokenjaw^^ for your commentary on the economy. It's just a machine that I wanted to post for all to see the availability.. Maybe all this other talk of the economy should be in the off-topic arena.. Just a thought..

 

Back on topic . . . $198 large and no bling? Sorry, not worth a drive over to Rocklin to even take a peek.

 

Geez, I came here to take a break from OT!

 

stockbroker here! didnt come to 6speed for economic reports and predictions! Very depressing news!!! thats for www.bloomberg.com

 

Spoke with Don (sales manager @ Niello) this past summer while getting my car serviced. He said they were expecting the arrival of a used white RS which they paid $30K over MSRP from the original owner. They anticipated they car will be sold even before it hits their showroom (yeh right!!!)

Well, it's gotta be hard enough trying to sell $100K cars. ie.) Just picked up my SL55 in LA where many brokers are dumping their high end exotics as well.

I'm embrasing this downtime because "One mans loss is another man's gain."

 

Here are both of Niello's RS's. Very nice but as already stated, pricey!!! At $198,000 & $178,000 my MSRP GT3 looks better everytime I walk by it in the garage.