IMO, one reason the folks with the older cars are looking to sell, some in order to obtain a new hemi chally
people with one or two and may not be able to afford three or just one to have for that matter are selling.
I myself have recently (over the past five years) liquidated most of my collection while the prices were holding high as well as to make other investments in the future namely property.
With the freezing of ARM rates for the ones who have them from 2005 + we as a whole are in the process of trying to stem off a recession in the near future.
Although the housing market is a small chunk of the U.S. economy it is down something like 4-5% nationally while isolated sectors are as much as 17%, there is a lot of builders sitting on new inventory they need to move as well as realestate co's with used properties in inventory.
Many people got loans some who should'nt have as well as those who bit off more than thay could chew are now experiencing layoffs, cutbacks etc...this is not to be specific but, just a sample of one part of our economy in a troubled spot, foreclosurers are the highest that thay have ever been if that and the layoff's are not the snowball rolling than tell me what is?
Yes, gas/fuel/heating oil prices are always gonna rise untill we find alternative sources and use em or start to tap our own supply of oil to become less dependent on others I am not for sure but I think I recall we ourselves at our current rate of consumption would have enough for 500 years perhaps someone can chime in here on that one.
I myself do not need anyone to tell me there is a problem, I know one person who has been affected in one or more area's of concern either laid off, fired due to the position being dissolved, less hours, reduction in pay, CO moving or closing etc... and I bet every person here knows of at least one either directly or indirectly and that is one too many.
Our economy/prices as a whole has been, is over inflated.
Just some of the ways the housing market effects though it is just one part, as a measuring tool it plays in big.
Example, think of every step it takes to build one house and all of the people it effects down to the guys taking a break and reading the daily newspaper and the cup he drinks his coffee out of, if these people are not working they are not using, buying etc...so than neither can the manufacturer, seller and all that affect that sector.
