I think about that watching all of these insecure guys struggling to park huge pickup trucks in a city, or simply stay within the painted lane markings. These pristine vehicles are clearly unused for their ostensible purpose and it seems unlikely that everyone is so rich that buying an $80k luxury model isn’t a financial concern, so I’m hoping that interest rates returning to normal levels will reverse that trend.
Big trucks are well into 6 figures now. And with the miracle of 100 month loans they have suddenly become accessible to people with a median income and a highly impoverished financial education.
Yeah, I have these eerie flashbacks to 2007, wondering how so many people were buying huge houses and reminding myself that it was all due to willingness to incur massive levels of debt. This time around it’s even worse since the assets depreciate rapidly and there’s much less resale value if the lifestyle accessory community moves on to something else: most of those extra expenses are things which subtract utility for the people who need to buy one.
