The beginning of the 80’s I had a scooter for transportation. I had no idea what high oil prices were. Nearing the mid 80’s I foolishly bought a Ford Mustang II, the first of many pieces of crap from America’s East European Car Company. Do you ever wonder why there were a lot more used Fords on sale instead of Chevy’s ( recently all cars are so friggin expensive there are plenty on the used market as they are dumped to forestall Bankruptcy By Vehicle )? Don’t get me wrong, all American cars are crap compared to Honda/Toyota. It is just that one company puts out less crappy cars than another ( a dig at management, not the workers unless you personally contribute to the problem by whining about ONLY making $30 an hour and do bad work especially on Monday and Friday but also every other day ending in a “y” ). Anyway, not only did the Mustang have problems mechanically, you could actually see the gas gauge move down as you drove over 60 mph.
I “allowed” the bank to repo that one. Actually, I went to the dealer and tried to get them to take it back ( “no one is interested in V8 anymore” ) first, then I just walked into the bank and gave them the keys. That was priceless. Best abuse of credit, ever! The thing that stuck in my mind was the non-marketability of the gas guzzler of that time. Since then we got fat and spoiled on cheap gas again, but the time when new and used gas-guzzlers sit untouched in the dealers lots will return. Of course, when that happens another blow to the housing market will be the big middle class McMansions sitting empty both due to lay-offs and to natural gas shortages to heat the suckers ( the rich will continue in their wasteful ways ). It will also be the time when you can pick up used vans, used pick-ups with cab-over campers for not much more than scrap metal price.
At first, folks will be in denial such is the case now with high priced homes. They still hold on to their Gum And Glue dwellings as if they can still find an idiot more out of touch with reality than they were that will buy the thing. Unless you are sitting on a gold mine entrance, there is no way a quarter acre lot with a thousand square feet of green wood and pressed board and plaster thrown up over wet concrete by Mexican illegals is worth a half a million dollars. And that’s the new and improved price! I know, you know, and perhaps even Ross Perot knows that most people are complete and utter idiots, saved from a lifetime of poverty and fruit flavored rubbing alcohol spiked wine only from the fact that Mommy and Daddy paid for a college certificate so junior can bribe his way into a monopoly controlled trade and safely practice his incompetence on captive customers at an absurdly high, unjustified salary. But even for those idiots, buying during the housing bubble was really friggin stupid.
Once the fact of Peak Oil has been pounded over peoples heads repeatedly with $7 a gallon gasoline, and then after the high prices don’t diminish, then you can buy your new home very cheaply. As in under one ounce of gold cheaply. You might even be able to barter for something to reduce that price. I don’t think travel trailers will be sold off except for quite recent buyers unable to make the mortgage along with the trailer and ATV payments. Older trailers will command better prices as fewer folks can afford apartment rent. New motor homes will revert back to the semi-rich buyers. If you don’t have a cheap used trailer now, forget about it later. But the vans will be given away as gas becomes a luxury again. Hope you bought your cheap land to park it on. Wal-Mart will disallow parking there once the lot is overtaken with mobile Hillaryvilles.
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