Musclecar prices and the possible recession

[Hotrodpaul]

Maybe it's time to buy some United Airline stock trading now at 1/3 the price it was back in December. Once the pandemic is under control and people get back to usual life and flying again, the stock should rebound or at least double what it is now in 6-12 months. Then I can afford to buy that nice 66 Nova I have been wanting....

[67since67]

Originally Posted by Steve Shauger

For example I took the 67 L78 survivor Camaro out yesterday. With 456's I can't shift fast enough, with D-70-14 the tires grab like I'm on snow, and at 50mph I'm running 3150 rpm's. With that said, I enjoyed the heck out of the drive. Oh I took a picture when I stopped at a Harbor Freight store. met a bunch of motorheads and talked tools

Lets get back to our mission......

Steve, your Camaros are absolutely stunning, every one of them!!!

[RPOLS3]

Originally Posted by Steve Shauger

The media sensationalizes everything as a general statement. For instance when we get 3 inches of snow here on Long Island it's considered a blizzard and half the island shuts down.


I use that as an example of our local media outlets. I certainly don't want to minimize the present situation. Regarding our site quite honestly I get tired of all the updates posted on how far the stock market has dropped. You can get real-time analysis from whatever news outlet you fancy.


The steps that have been taken to curb the spread of the virus hopefully will have the correct effect. There are unknowns and peoples natural reaction is flight or fight. Lets fight through this together.


The best thing we can do is support each other, discuss our projects, new acquisitions and how your car performed on your last drive. For example I took the 67 L78 survivor Camaro out yesterday. With 456's I can't shift fast enough, with D-70-14 the tires grab like I'm on snow, and at 50mph I'm running 3150 rpm's. With that said, I enjoyed the heck out of the drive. Oh I took a picture when I stopped at a Harbor Freight store. met a bunch of motorheads and talked tools


Let's stick to the ultimate mission/goal of the site, a place where likeminded enthusiast can exchange ideas, develop friendships, and help other hobbyist and share our car experiences.


Lets get back to our mission......

Amen!

[Crush]

OK here’s some good news we will all benefit from lower gas prices so we can drive our cars. Who knows maybe they’ll get back to 70s prices! Russia and Saudi Arabia are going to continue to produce more and more who knows……

[70 copo]

Yes perhaps I can get a deal on Turbo Blue... Lets go drive em!

[tom406]

I've already talked about some of the reality here on the ground in Seattle. I now have someone close to me who is advanced in years, showing symptoms, and is going to be tested for COVID-19. Its real AF for many of us, so while I'm open to debating responses and policies, I have little patience to engage with anyone referring to this situation as a hoax.

I value this community-its why this is the one website I've frequented pretty much since I began surfing the internet. It has consistently remained informative and above the fray of petty internet BS. I'm hugely appreciative of it in many ways-everything from learning how to analyze Chevrolet engine stamp pads to actually having several people share the wrenching loss of a spouse or child. That's not par for the course on internet boards.

I appreciate the honest and open discussion, and hope it continues in most ways. One thing I took away from the 2016 election/culture war, is that scolding-especially in a snarky, dismissive way-is really only for the poster's ego and isn't going to actually sway anyone's opinion. Nobody is listening after they are insulted. They just aren't, whether they've just been called a "snowflake" or a "deplorable". So, if you read back what you've typed and it reads like a scold for not feeling the way you feel, delete it and try again or go work on your car.

I love these old cars. They've been dominant in my life since I was about 4 (really) and my business for half my life. I'm 50 and I'm fortunate to have a comfortable life, mostly related to marrying a great partner with skills she could monetize. Most of my regular clients and close friends in this hobby are older than me-many are as old or older than my Dad. I'm not really sure where some of you get this endless optimism about the market for these cars, even the "blue-chip" collectibles. I certainly don't think the market is going to end in my lifetime, but I struggle to come up with people I know personally my age or younger who I really believe will EVER line up to pay six figures for a 1960's muscle car, regardless of how well their portfolio is doing. Who is in the BJ/Ebay/Mecum audience in 10 years?

As for the near future, I think that the best stuff will stay strong if the economic fallout isn't too severe. In 2007, I saw a lot of cars hit the market and a lot of serious collectors get squeezed by their debts. Most of them were self-made contractor types and they had too many notes come due. Not only were they no longer buyers, they were having to liquidate some awfully good cars. As for the rest, I can't see the bread and butter middle market doing anything but settling. Few people can be thinking of looking for a random Camaro or '57 Chevy to take to Cars and Coffee in the summer of 2020, whatever they think about their personal risk to Coronavirus.

As ever, thanks to the forum for letting me share my .02c.

TOM

[Late BrakeU2]

Originally Posted by Hotrodpaul

Maybe it's time to buy some United Airline stock trading now at 1/3 the price it was back in December. Once the pandemic is under control and people get back to usual life and flying again, the stock should rebound or at least double what it is now in 6-12 months. Then I can afford to buy that nice 66 Nova I have been wanting....

I would wait on that, my buddy said the same thing and i bet him it would be half of what it is now by summer. Airline 1st Q #s will be bad, but will look stellar compared to Q2.
https://finance.yahoo.com/news/air-c...164906718.html
jmho

[70 copo]

Everybody- Stay Calm, Don't Panic, Turn the TV off and give it a rest.

Marking the Calendar for 60 days from today. We will be sure to revisit our progress then as we come together to beat this.

[Astock]

Originally Posted by 70 copo

Lee,

I am not sure we need a thread on an issue which will be in all likelihood a non issue in 60 days or less.

We just hurt ourselves and the hobby in the process if we give in to the fear and hype currently surrounding this.

Tracker-
You don't need to be an expert on disease or economics, just common sense.
I posted the statistics on daily car accidents, since it is a car site, and I guess fear over rules logic.
Killed everyday, around 3500. Injured or disabled around 100,000 daily. Add those numbers up since covid 19 showed up. In just 2-3 normal days, more deaths in driving than covid 19 total.
Mortality rate 10x more. Chance of getting in an accident are also 10x more than contracting the virus.
So, don't get in your cars, and drive to the market and clean out the shelves, I had to drink my coffee without cream this morning.

And, I only jump in the market, when there is major fear Driving the stocks down. In this case, the fear lows are not here yet.

[Hotrodpaul]

Wow, DJI falls 3000 points today, worst selloff since Black Monday 1987. Looks like we are in for an extended downturn, this is crazy!