why are cars so much more expensive these days? - Page 4

SS 376 · 10-05-2011, 07:06 PM

Our dependence on credit as a substitute for actual income probably has something to do with it too. Credit has been too easy to get recently, which fueled the spike (before the crash) in home prices (imagine being able to get a mortgage and nobody caring if you actually had any income), college tuition and the like. Imagine how much cheaper things would have to be if a large part of your customer base had to pay cash instead of financing the purchase. The awful state of the housing market is an example-credit is tight, so prices are dropping, and dropping, and dropping...

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10-05-2011, 07:06 PM	#43
SS 376 Drives: 2010 IBM 1SS (Former) Join Date: Feb 2009 Location: NoVA Posts: 2,031	Our dependence on credit as a substitute for actual income probably has something to do with it too. Credit has been too easy to get recently, which fueled the spike (before the crash) in home prices (imagine being able to get a mortgage and nobody caring if you actually had any income), college tuition and the like. Imagine how much cheaper things would have to be if a large part of your customer base had to pay cash instead of financing the purchase. The awful state of the housing market is an example-credit is tight, so prices are dropping, and dropping, and dropping...