Will the used car market cool off?

I see a lot of near 200k mile vehicles being sold for a lot more than they are worth. People are going to regret assuming high mileage means nothing. Take the money and run, that’s amazing profit, tax free. If it is a cash in hand offer not just talk. This frenzy won’t last.
 
My mortgage on a 3/2 is Zero. And is worth about 6 times the purchase price.
Property tax is less than your rent.

Each to their own, of course.
Not everyone wants to live in Bratislava.

Fixed BLND1 response to JeffKeryk


6-8 years ago this place would have been about $25,000

Things changed

Even after it’s “value” slowly drops back down to $25,000 the increased property taxes likely won’t


Seen the balloon bust cycle 3 times already, usually am unemployed when houses are worth buying.

Funny part is many “expensive “ areas actually have very few people who want to live in them, but those that do will pay dearly.
California is a prime example of where when surveyed most of the general US population would never want to live there but if a couple nut jobs want something it can prop up values one property at a time.
 
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And I sold the van.... I was paid 45% more than I paid for it 1 year/12k miles ago. I was gifted a car for my 1.8 mile drives to work and my wife will drive the suburban.
I also want to state that the transmission makes some shifts that make me nervous. Even my wife (who is oblivious) mentioned it to me. I feel like it was beat on as a rental car.
 
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