Huracan pricing bubble

161445 Views 3490 Replies 114 Participants Last post by topcarbon, 19 h ago

Dpk555

Discussion Starter · Apr 21, 2022

I don’t know about anyone else, but these prices are getting out of control. Evos with 5k+ mileage asking for 350k plus?? Performantes in the high 300 low 400 range? 610s approaching 300? At some point this has to relax a little. I’m just some old guy venting that when he finally has enough to purchase the cars that the asking price keeps getting higher and higher.

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Luzifer

· #3,207 · 3 mo ago

Mlarco52 said:
400k for a house in Canada? Must be way out there.

I won't pretend I'm knowledgeable about real estate, what do you mean way out there, inexpensive or expensive?

Luzifer

· #3,214 · 3 mo ago

2

@Rcasa20

Pointing out how crazy the Canadian market is right now for comparisons... ZR1 had an MSRP of 138K CAD, now priced as Huracans and most higher than the oldest Borealis I have my sights on ...

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Luzifer

· #3,219 · 3 mo ago

Rampante21 said:
Why would anyone buy a Chevy for that price tag?

It was to point out how the luxury car market went completely nuts and there is no light at the end of the tunnel that I can see. The US is starting to have some depreciation but here it's a circus.

Reactions: 1

Luzifer

· #3,221 · 3 mo ago

That's the sad part, too many "non savy" that are going to open their wallets and help dealers perpetuate the trend. Just wait till the Z06 shows up they'll probably try to flip them at 250-350K.

About RE, they already brought in 430K immigrants this year and are going to raise immigration to 500K by 2025! That means a whole lot of new houses or lack there of, schools etc. and a huge load on existing infrastructure and I can feel it on my side of things and it's ugly.

Luzifer

· #3,231 · 2 mo ago

I think dealers are pulling back the curtain on their hidden inventory, all of a sudden nearing spring where we will be able to take our cars out in about 3-4 weeks they have started to post more Huracans for sale, I do not believe in this coincidence. In the last 6 days it went from 52 to 58 H on autotrader.

Reactions: 1

Luzifer

· #3,236 · 2 mo ago

Mlarco52 said:
There is also alot of Canadians who over extended who are in a pinch right now off loading cars to dealers or privately.

I'm seeing many new home builds people intended to live in that just finished last year are all now up for sale at below what their build cost was.

I know it has been disscussed a few times in this thread, it's still strange someone with supposedly a lot of money needs to sell their house they just built, did they build a mansion with money they don't really have? I drive by brand new neighborhoods that look so luxurious and I wonder how the heck do they afford these when you go check out stats canada to see the population's income. When you look at the houses you wonder if the stats are on the low side or it's the other way around and a lot of them spend a fortune on housing.

Luzifer

· #3,239 · 2 mo ago

Hogdogfatkat said:
I’m sure they just rolled cash from another property into the new build, that’s how it normally works.

Everyone becomes an investor when things are good and they don’t believe there’s an end in sight or ever will be. Typical consumer behavior. Some are for sale out of fear of losing money on the home, some out of fear of losing their job which leads to losing the house, some because they’re getting divorced, some because they speculated that by the time it’s built they can flip for a profit, some might have gotten an Adjustable rate mortgage that’s about to attach to an Elon rocket and head to mars, etc etc etc.

A lot of people just got laid off last week at one of the companies I work for - mostly the higher earning salaries people so the company could move funds to other initiatives

In AZ, builders are requiring around $10k for a deposit, non refundable, and people are still walking!!

It's a amazing to see the amount of risk many take playing on that kind of level when there's no back up in their bank accounts. Back in the day people would buy an inexpensive house fix it themselves, well pretty bad fixes actually but that's another story(

) and buy only one suit that would serve them years, nowadays a lot of people want to buy the whole catalog of stuff, the big house and expensive vacations.

Luzifer

· #3,241 · 2 mo ago

Hogdogfatkat said:
Clothing is my least expense. Food is my biggest. Housing is my second least (it’s just me, not a family). I’m not a fan of expensive housing anyway, as it doesn’t add entertainment or excitement to my life. I could sleep in a tent on government land and be okay most of the year 😂

I've been into so many houses they are basically all the same, the size of rooms and the exterior shell varies but everyone uses the same window cleaner. I wouldn't want a big or fancy house either, well except for a huge garage!

Reactions: 1

Luzifer

· #3,250 · 2 mo ago

NeedMoreCoffee said:
What I've noticed is most people will spend whatever their max mortgage approval is. So if you're approved for $4M, you're only shopping at the $4M range. I rarely see people approved for $4M and then saying "let me shop for a $2M house".

Problem with that is you end up being on the edge during good times - and when bad times hit you become really stretched. I know quite a few folks that went in on expensive homes at low interest rates thinking their income would keep growing and growing (lots of stock-based compensation) but now they're making 25-50% less as stock values tank - and basically can't get out of their homes because their $4M home at 2.5% interest is now a $3M home at 6% interest. I'd imagine many folks backing out of new home builds are in a similar spot - but at least they can back out.

Not universal obviously but I'm seeing lots of that.

I noticed when I was shopping for a house all the agents were pushing me towards houses over my budget, I dumped the first agent who brought me to 2 houses in a flood zone(a decade later were river flooded twice), the second house double my budget that had 6" of water in the corner of the house, the foundation wall buckling in and the pool cracked in half and filled with mud. That house was abandoned for another 3-4 years before they bulldozed it.

Luzifer

· #3,252 · 2 mo ago

Which leads into thinking no one learned the lessons of the 2008 house crash?

Luzifer

· #3,260 · 2 mo ago

When A car drops it's price it's an event. Very few came down, this one was posted in early November (5 months)

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Luzifer

· #3,265 · 2 mo ago

2

The Murcie doesn't list any issues and if it's not a mouse trap then wow what a strange thing these 2 cars are practically the same price. No H bubble end in sight.

Out of curiosity, which of these 2 would you choose?

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Luzifer

· #3,267 · 2 mo ago

Huracaan said:
Yup, no issues listed on the Murci just some minor damage that was buffed out...

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And there you have it, the mouse trap, I had the feeling there was something hidden. Thank you for the pictures. Looks like the left wheel's suspension was smashed so probably the frame got hit too. Based on the marks on the crumpled hood looks like a concrete divider? Is it even worth the difference from other cars where they are a little higher.

The more I immerse myself in the sports car world of sales the more I see there's so much deceit, lies and fraud.

Reactions: 1

Luzifer

· #3,270 · 2 mo ago

Mlarco52 said:
Yes that car has a rebuilt/salvage title. Absolutely insane how they're not mentioning it on the listing. The owner and the dealer listing it will easily be sued if they don't disclose it. The car was imported from the US to Canada and I'm assuming they're hoping that question won't come up about its title?

Who would sue, the new buyer when he finds out? Even then would the new buyer get enough compensation IF he gets a judgement in his favor. Looks like anyone who falls for it would lose in one way or another.

Luzifer

· #3,281 · 2 mo ago

Huracaan said:
I can't find the post in here but the yellow LP580 that was listed out in Vancouver for $289k (I believe) sold.

Last time I documented the listings was March 21.

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Luzifer

· #3,286 · 2 mo ago

3

A new listing popped up this morning, a "stanced out" Huracan, check out the camber on the rear wheels, What the...? The first picture looks like he slammed a curb and the wheel deformed.

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Luzifer

· #3,294 · 2 mo ago

No price drop on almost all cars under 300K up here in the last 6 months+, looks like 2023 is already a no go.

Luzifer

· #3,297 · 2 mo ago

lambo_dream said:
Noticing values holding for R8s, Mclarens, Turbos etc as well

Our predictions of a market crash for the past year really sucked lol

Yeah that really sucks, I've started to look at 570s but they too are jacked up and it doesn't make financial purchasing sense.

What we learned however cars are not selling too much, the inventory in Canada is high (60 cars on AT), a lot of them are sitting and some of them have been sitting for over a year. Another thing I learned is that some dealers have a money printing machine in the back store.

Luzifer

· #3,298 · 2 mo ago

lambo_dream said:
Noticing values holding for R8s, Mclarens, Turbos etc as well

Our predictions of a market crash for the past year really sucked lol

In Limbo for a lambo!

Reactions: 1

Luzifer

· #3,323 · 2 mo ago

2

I didn't think selling legal weed was profitable when there is 12 weed stores on the same street. Selling weed took a down turn or upgrading to a newer car?

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