Quote:
Originally Posted by ElDiabloJoe
PCH through Newport, Laguna and north Dana Point (Monarch Beach) has always been a Saturday afternoon parade of high end cars making their way to and from Fashion Island. I've watched it for many years from various locales in those three areas.
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True that! On Saturdays just about any exotic sports cars one can think of and incredible hot rods cruise PCH. The hot rodders meet at some donut shop in Huntington Beach I think.
Anyway these were $$$ SUVs about 10:30 a.m. on a weekday out among the hoi polloi in the usual assortment of Mercedes Benzes, BMWs, Audis and such so they got my attention.
Back in 2007-2009 during the Great Recession I was living in Newport Beach and owned a Cayenne S. I remember taking it into the dealer on PCH which also sold Audis and Bentleys. Their lot must have had 20-30 Bentley Continental GTC convertibles in it. I had never seen the like of it as their lot inventory was usually just a few. So, I asked the service guy what was going on. His response: "Oh, those are the mortgage brokers' cars." Apparently that type of car was the "in vehicle" leased by mortgage brokers who were making money hand over fist at that time. Then in a flash, the boom time was over and they had to turn them in.
This recession feels different, so far anyway, and it is quite early. Katie bar the door. Anything can happen IMHO.