We keep an eye on the used car dealerships in our area, and the prices are outrageous.
Cars are going for twice what they are usually worth............
Supply eventually adjusts to demand. The demand goes away (because of what is perceived to be excessive price), and the supply piles up to unsustainable levels. In response, to get rid of excessive inventory, the holders of this inventory will reduce prices, sometimes at and often below cost of acquisition, regardless of loss, until the market again finds its own level.
Entirely predictable, yet people are always surprised when it happens. There will be blood on the floor.
When the new-car pipeline is severely hampered by part shortages you’ll get this.
Try the Class 8 truck market.
https://www.truckpaper.com/listings/trucks/for-sale/list/category/210/heavy-duty-trucks-conventional-trucks-w-sleeper/manufacturer/peterbilt/model/389?sortorder=9&SCF=False
$250,000+ for 2023 (Hope you don’t need one soon)
Who pays for that? You do.