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Discussion Starter · #1 ·
The insanity continues.

Surfing CL today in the southeast I didnt see a single running/driving 65-68 Mustang with an asking price under 20k.

Pre-covid the Atlanta CL had around a dozen vintage Mustangs for sale by owner on any given day. Now its only 2 or 3 for sale.

How long will this continue to go on?
 

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Up here i saw a basket case convertible (car is literally in seperate pieces from rust) for $5,500CDN.
Nice coupes seem to be around $25,000, fast backs as much as $75,000.
Prices will stay crazy till the interest rates go through the roof and people start divesting their toys to hang onto their homes, or a whole lot of people fall out of love with their cars.
Not likley people will fall out of love with their cars,
 

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Used to be when interest rates spiked and the economy tanked, people would sell their newer car (which carried a hefty monthly payment) and reverted to driving their classic (paid for, just needing a bit of work to gain reliability). But when the recession hit in 2008, that dynamic did not appear. Seems folks are more willing to shed the wise investment than drive it, instead of shedding the depreciating/expensive/modern-features/safe new car.
 

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The high level of public debt (28 trill +) would cost too much to service if rates went up. Therefore, rates will be held down artificially and money printing will go on to inflate out of debt. Outcome, inflation. Car values up, along with everything else. Dollars, down.
 

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At what point are people satisfied in a materialistic, dying world? Never. Too bad. I'm counting my blessings and planning to sleep in the same house with my wife and kids tonight, maybe go for a drive first. I'd rather own, maintain and drive my 66, or my old F-250 than a brand new vehicle, any time, no matter the economy. Neither is for sale. Not really looking to buy another, but if I did, it would be for my honey.
 

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People like classic Mustangs.

I keep hearing a lot of complaining about "printing money". So, when did the US not print money? Yeah, I get it. US is printing a lot more money lately. For some reason giving trillions to rich people and corporations is somehow good for everyone, but giving money to poor people and working families will destroy the economy and destroy America. Not following that logic.
 

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The insanity continues.

How long will this continue to go on?
Until the wives decide to start to travel again. Going to Disney twice a year, a 7 day cruise and day trips to all sorts of boring destinations isn't free ya know.
 
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I see 2 things going on. First, money is worth less and that's going to get a lot worse so the smart move is to turn that piggy bank into something that appreciates. Second, more people are discovering how cool Mustangs are. They're still the best project option out there where you can find any part you need. I'd guess prices/values have doubled in the last 10 years
 

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Discussion Starter · #10 ·
I see a lot of gen 1 Broncos for 40-80k, These are not show or showroom condition.

At some point the better value will be to go the dynacorn route or build a Cobra replica, especially with 2+2s hitting 40k+
 

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Project 65-68 coupe cars that were $2500 and rough are now $4500 and rough around here.

Used trucks are even wilder. I was truck shopping in early 2020. Dealer had a new 2019 still, F350 DRW 4x4 crew, pretty otherwise basic with the STX package and the little gas V8. Gave me an out the door price of $37K. I left it because I really wanted a manual, and it wasn't attractive. If I had bought it, I'm certain I could have sold it for a nice profit today.
 

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People like classic Mustangs.

I keep hearing a lot of complaining about "printing money". So, when did the US not print money? Yeah, I get it. US is printing a lot more money lately. For some reason giving trillions to rich people and corporations is somehow good for everyone, but giving money to poor people and working families will destroy the economy and destroy America. Not following that logic.
What you described is called Putting America Last.
 

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At the Street Machine Nationals going on this weekend, I seen this 65 FB in person for sale, also listed on Craigslist. Just looking at the outside and not underneath, the doors are rusted and the quarter panels are poorly done. A restoration project indeed. At the Nationals, I could not talk to the owner, but his buddy said he has a couple of older Camaro's and he bought the Mustang because he thought it was cool. I think the sale is speculation on how much money the seller can get due to people being up sold on the value of the early Fastbacks. Nothing wrong with that, it is a free market out there. It won't matter much until a can of green beans hits 50 bucks, and that's where we are heading, thanks to the ones running the big show.
65 FB.JPG
 

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Discussion Starter · #15 ·
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Without devolving into a political discussion here are a couple videos that I enjoy and that sum up our tax and immigration failures.

Tax System explained in Beer || Animated video by Arc Solutions - YouTube

Immigration, World Poverty and Gumballs - Sustainable Population Australia
I've seen those videos before. The problem is that's not how our taxes actually work. In reality, those rich guys in the bar would pay nothing because their tax lawyers would find loopholes and deductions.
 

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Discussion Starter · #17 ·
I've seen those videos before. The problem is that's not how our taxes actually work. In reality, those rich guys in the bar would pay nothing because their tax lawyers would find loopholes and deductions.
Where do you get that the wealthy pay nothing?

The highest 20% of earners in this country pay 63% of income taxes.

Whats broken is the tax laws that allow corporations to pay nothing or almost nothing in income taxes and the laws that give tax breaks that generally only the wealthy qualify for.

For example, the 6.2% FICA tax in 2021 applies to income under $142,800. Neither me or my wife will earn over $142,800 this year, so we will pay FICA on 100% of our income.

Mike Trout of the Angles will make 37.1 million in 2021. Mike will pay FICA on .0038% of his income.

Thats grossly unfair, but Mike is still in the top 1% of wage earners and will pay far more in income taxes this year than i have paid my entire life.

A blanket statement that "those rich guys in the bar would pay nothing" is just not true.
 

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Discussion Starter · #18 ·
My sister and her husband are both self employed. They typically work 12+ hour days, 7 days a week. About once a quarter they will take 2-3-4 days off.

They each pay the full 15.3% FICA as well as state and federal income taxes.

Additionally they pay for their own health insurance, life insurance and fund their own retirement accounts.

In 2020 their federal tax liability was over 200k.

Ask my sister how she feels about someone who is able to work but chooses not to and is sitting at home drawing unemployment benefits that her tax dollars are paying for.
 

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Let's keep it to Vintage Mustang prices guys,......
 

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In all these years, I have yet to find a legal or ethical way of avoiding the top tax rate. I think it is publicly traded corporations that figure out how to generate wealth while making no money on paper. I'm not smart enough to understand it, beyond the fact that all taxes are eventually paid by consumers.
 
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