
Originally Posted by
Rick
Eric -- agree completely with your analysis. In fact, those are the conclusions I reached a year ago before I ever saw a 2010 Camaro in person. I don't anticipate purchasing another vehicle of any kind within the next 10-12 years, based on projected service lives and annual mileage driven by this family.
The last time this country experience similar economic conditions was in the 1930s. Despite some extremely inept moves by the Federal government (and with the unfortunate help of a world war) things had improved significantly within 12 years of the "bottom". Hopefully we can avoid the world war part, but it's not unreasonable to think we'll recover within a similar period of time.
Overcoming the loss of equity in home values is the giant millstone that's going to take the longest for most people to dig out from under. Until that happens a LOT of things (housing industry recovery, real estate market, retirements for many) will be delayed/deferred significantly.