On: Ask HN: When will car prices normalize?

[nojito]

The car industry is far worse. The vast majority of Americans are driving cars they can't afford.

> I know Blackrock and other parasites are scooping up housing too, but that's not the majority of buying.

This is generally a good thing because it drives prices down

[mpmpmpmp → nojito]

How does it drive prices down when speculators are buying up residential houses and outbidding regular people?

[nojito → mpmpmpmp]

Because many more people can afford rent as opposed to taking on a mortage.

[88 → nojito]

> The vast majority of Americans are driving cars they can't afford.

How do you define whether someone can “afford” a car? Surely by definition the people can afford the cars, otherwise they would be repossessed?

If you mean they cannot afford to buy the cars outright, why is that an issue?

[nojito → 88]

Just because you don't lose your house doesn't necessarily mean you can afford to keep it.

At a certain % of income, owning an asset doesn't make much sense due to how it affects your financial security.

[bonestamp2 → nojito]

How does reducing the already limited supply even further, drive prices down? I always thought that when demand is high and supply is low, prices go up?

[nojito → bonestamp2]

There are way more renters than there are home buyers.