Why are used cars so expensive right now?

Used cars alone accounted for one-third of all price inflation in the US over the past year.

https://thehustle.co/why-are-used-cars-so-expensive-right-now/

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Chip shortages are driving used and new car prices to historical levels. If you heard the stories of what consumers are paying for used cars you would be baffled. In some cases some used cars are selling for more than the same exact new car. The entire car Industry has never witnessed anything like this before. On average a new car depreciates about 10% once driven off the lot. They are now saying it's approximately 3%.

They have no clue how long this will last. Some say for another year or 2 but it won't last forever. As you can see everything is bubbling, every market is out of whack due to the pandemic and the fed printing. Eventually there will be a gigantic collapse but for now don't be the fool who is going to over pay for a car and a house!!!
 
No supply, there are people going door to door leaving "I will buy this car"! notes on people's homes and cars. Used Car lots are hurting, we talked about this last year when discussing stocks like AN.
 
No supply, there are people going door to door leaving "I will buy this car"! notes on people's homes and cars. Used Car lots are hurting, we talked about this last year when discussing stocks like AN.

Indeed, less supply.
The main reason is the transition to EV cars. In many countries consumers are in a lot of uncertainty about what will happen in the near future. ICE cars will be taxed more , access to big cities gets more and more prohibited. At the same time a lot of people don't like EV's because they have a limited range and that causes problems for people living in flats and cannot install a charger.
Result is that a lot of people decide to continue to drive with the car they have instead of buying a new one as they did before. So the supply went down heavily and the availability of fresh second hand cars is now much lower resulting in higher prices. Sales of new cars went down too because of that.
 
It started early in the Covid shutdowns, I lived in a major metro area in California and I needed to pick up another "used" car as my wife totaled one of our vehicles. I turned to the usual online sources and was shocked at low selection/crazy prices. I called a friend who deals actively in used cars, he told me supply was drying up fast, with certain types of cars simply not available.

Why ???, I asked .

He said, extra stimulus $ handouts, people getting paid in various jobs to stay at home cutting costs and building up cash, etc. coupled with no where to spend the extra free money since everything was closed. People were picking up cars as projects, or a nice time to buy one for the kids one day, something to have with the free $ instead of extra toilet paper, backup vehicle, a million reasons. I soon began to run into folks buying extra cars. In addition our motor vehicle department was closed due to the pandemic.

I ended up traveling to Hertz in Texas to get one of their BK liquidation cars. Salesmen told me he was selling a lot of cars to people traveling from California ( and some other areas ) to get them for same reason I did, no local supply , this was mid 2020.
 
its an age old technique, big auto companies wanted to suck all the existing ICE supply so that they can create artificial demand for EV's , might take 2-3 years to suck all the supply and then transition to EV. So dealers are part of the same game.. :)
 
So - according to that graph, it is really worth it right now, if you have a 7-8 year old car, to sell it and buy a new one?
 
Are the passengers in these flights documented migrants? undocumented migrants? human trafficked individuals? Where do they go from the Airport? If they are undocumented, how would follow up for their continued safety be tracked and enforced?

Who is Sponsoring and Responsible for the Wellbeing of these Migrant Children? Are they even accompanied by their parents? Who will take custody and responsibility? Do they need to prove kinship or other proof of legit reason they should have custody of (un?)documented children?

Seems pretty hazy considering the serious nature of the activity.

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Similar Assistance Incident From the Memory Hole:

What ever happened to Laura Silsby?

That's quite a charge below made against Ms Silsby by the 'Haitian government'.
She must have Sued The Pants off the Haitian government for Libel or Slander or whatever innocent peopld do when Lies are Promulgated against them.

Where is Laura Silsby now? What does she do for a living?

https://www.wsj.com/articles/SB10001424052748704533204575047720443045194

Haitians, Parents Defend Arrested Americans
Family of Accused Idaho Woman Says She Was Trying to Help; Children's Relatives Detail How They Sent Them Away

By Joel Millman in Callebasse, Haiti and Jeffrey Ball in Twin Falls, Idaho
Feb. 5, 2010 12:01 am ET
  • Text
The Haitian government is accusing Laura Silsby and nine other American missionaries with illegally abducting 33 children, most of them from the small town of Callebasse, in the mountains south of the capital.

Haiti's Orphans
But some of the children's own families and friends here disagree. On Friday, some said they willingly handed over the children, want the Americans freed, and want them to continue with plans to have the children live in an orphanage in the Dominican Republic.

The account from Callebasse stands in contrast to the image portrayed by the Haitian government of Ms. Silsby and the other missionaries. On Thursday, a Haitian judge charged the ten U.S. citizens with abduction and conspiracy, charges that could land them in jail for years.

But the message from the town where 20 of the 33 children were taken is consistent with the message from Ms. Silsby's own family and friends. Adonna Sander, Ms. Silsby's mother, said Thursday night that her daughter's group had written permission from the children's parents to take them.

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Despite the villagers' support for Ms. Silsby's efforts, their accounts of her visit revealed details that raised questions over her attempts at due diligence.

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At least three people who agreed to send their children weren't their birth parents. Milien Brutus, 28, the brother of one nine-year-old boy, authorized passage with the Idaho group, as did Melanie Augustin, 57, who agreed to send a girl she adopted as an infant, nine-year-old Loudinie Jovene. Natanya Geffraid, a 24-year-old woman with no children of her own, signed off on sending a child to whom she said she is godmother.

The Idaho group also promised to bring the Callebasse villagers to visit the children next year in the Dominican Republic.

"They said we would all go in a bus together," said Ms. Augustin. She added that acquiring a Haitian passport was beyond the means of anyone in Callebasse, citing a price of 1,000 Haitian dollars, or US$125. The villagers said no one from the government had come yet to talk to them about what happened.

On Friday night, families of the detained Americans released a statement saying they would continue to seek their relatives' release.

The case illustrates the complexities of adopting children in a poor country with few working government institutions and a corrupt bureaucracy. Most children in Haitian orphanages aren't orphans, but have been put there by desperately poor families that hope they will be better fed and educated.

At the same time, there are many cases of Haitian children being trafficked for forced labor or sex, and the Haitian government says it must enforce regulations for adoptions strictly to avoid such situations. It is worried that the recent earthquake will lead to more trafficking.

Haiti has a long tradition of families handing over their children. Some villagers here considered the Jan. 28 arrival of Ms. Silsby and an Idaho church group "a miracle," and a blessing from God.

News Hub: Americans Face Charges in Haiti
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News Hub: Americans Face Charges in Haiti
Ten Americans have been detained in Haiti on charges of child kidnapping and criminal association, after for trying to take 33 children out of the country after the earthquake. WSJ's Adam Horvath joins the News Hub with details on the case.
Related Haiti Video
"I wanted my son to be another person. I didn't want him to have the life I have," said Jean Anchello Cantave, 36, who gave a 5-year-old son, Ancito, to the Americans. He loaded a second child, 3-year-old Magdaline, onto the bus, too, he said.

"But she cried so much, I took her back," Mr. Cantave said.

Pointing to a small square of brown earth behind his whitewashed stucco home, Mr. Cantave explained his own wealth was only what he can raise from the dirt—in this season, the carrots and cabbages he will try to sell at a nearby street market. He said he considered the chance to send two of his three children off to school no less than winning a lottery.

"The chance to educate a child is a chance for an entire family to prosper," he said, as neighbors—many of whom also sent children with the Idaho church group—nodded in agreement. To the question, what kinds of adults might these educated children become, they shouted: "nurse," "doctor," "airplane pilot," "mechanic," "plumber" and "someone with a job in an office."

NA-BE045_HORPHA_G_20100205175131.jpg

Laura Silsby arrives at a police office in Port-au-Prince on Friday.
REUTERS
Journal Community
Ms. Silsby's family in Idaho described her as following a family tradition of missionary work helping the poor. "Laura was raised in a missionary's home and just felt the burden for mission work," her father, John Sander, said Friday, speaking in the modest building that houses his denture-making practice on a residential street in Twin Falls.

Ms. Silsby's father said it was typical of his daughter to help out people she thought were in need. "She's always been very helpful to help people if they need a place to stay," he said.

Steve McMullen, a longtime friend of the Sander family in Idaho, said he spoke by phone to Ms. Silsby while she was in the Dominican Republic, and that during the call she said she was in a government office registering the names of the children her group was intending to bring back into the country from Haiti.

But the plans went awry. Sitting in his Twin Falls office, Mr. Sander shook his head. "I don't know," he said. "We better pray for a miracle."

Write to Joel Millman at joel.millman@wsj.com and Jeffrey Ball at jeffrey.ball@wsj.com

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  • meanwhile... this operation is nicely organized.
    what is its function? throughput? how many are there?
    who funds them? who benefits?
    have you seen any of these on the six-o'clock news? . . . . .post links?
    migrant-facility-989-jpg.260782
Every New Addition Needs A Ride, Skip the insurance tho, lol.
 
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