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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: mishedlo who wrote (107192)1/24/2010 6:23:16 PM
From: Hawkmoon2 Recommendations  Read Replies (1) of 116555
 
Very informative article Mish.. Never seen anyone addressing this previously.

But it would seem that the following two paragraphs are a bit contradictory:

In regards to teens, parents can no longer afford to buy cars for their kids. And with teenage unemployment at the highest rate in history, kids cannot afford to buy their own cars. That is the dynamic at play, not socializing by text messaging.

What's more important, and something the article did not even address is the massive wave of boomer retirement that is about to hit. Many boomers will go from two cars to one. Or from two new cars to one new car and an "emergency" clunker.

Most parents don't buy new cars for their children (at least mine never did.. ;0) So with the advent of the "boomer" retirements and downsizing of their car fleet, one would suppose that there would be more used autos available in the secondary markets.

More supply, lower price, right?

What I think is important is that people nowadays are forgoing new cars and either choosing to repair the one they have, or buying another used car.

As for myself, I'll doubt I'll even buy a new car again. Way too much depreciation in the first two years of ownership.

Hawk
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