Quote:
Originally Posted by Chuck W.
So…… 4 years ago on May 1, 2011, I retired.
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^That's it right there.
People who grew up learning to drive in the late 60's, 70's and early 80's are retiring now and a good part of them are doing so with stock options, and deferred income at a time when its very good to be cashing in poker chips. Seven years ago way different story.
This is why I was very skeptical about people nearing retirement unloading assets to keep up their quality of life in the years after financial collapse. Rather than a little belt-tightening and waiting out the tide's return, they sold things when the market was short of spending and credit and stocks were only partly into their recovery. Like many things not made of gold, 911 cars took a hit. Well the recovery exceeded all expectations and guys your age are flush with cash again jumping on the air-cooled bubble with both fists. Buy low sell high, problem is timing the market is tough. But I don't have to tell you that.
The problem is that much like the muscle car boom (and likely downturn) the younger generation of drivers coming up will want other things in high dollar cars, like bigger engines, better handling, more tech, more safety, less upkeep, more options on who can fix the cars. Actually they don't want to deal with cars being fixed at all...they just sell the car and get the new thing everyone is raving about like a 991 GT3 RS. At the end of the day air-cooled 911's are still competing with other things that are in those ball park prices, the big advantage now is that a big portion of the bidders are of a certain age that revere these cars....for now. I don't see millenialls for instance paying $100+k for a 993 Turbo in 10 years.
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