Chart of the week: the classic car boom is over
The market for classic cars in the US seems to be softening. It grew strongly in the years following the financial crisis, but peaked in September 2015.
The market for classic cars in the US seems to be softening, according to data from Hagerty, a specialist insurance firm. The chart above shows Hagerty's index of the volumes and values of collector cars traded, adjusted for inflation. The market grew strongly in the years following the financial crisis, as the price of classic cars increased along with other assets. However, the market appears to have peaked in September 2015. Prices for high-end cars seem to be weakening more significantly, while demand for more affordable cars is holding up better, according to Hagerty.
Viewpoint
"One of the oddities of the tax system is that we stop paying 12% national insurance on our earnings once we reach state pension age NI, when first set up, was a system of insurance against illness and unemployment. If NI is supposed to help fund the NHS and care services, there is no reason why pensioners shouldn't be paying it, albeit at a reduced rate. Making pensioners pay NI will spread the burden of care costs The alternative is to substantially raise inheritance tax. There is no better way to tax the extraordinary rise in house prices than to take a cut of it once their occupants have passed away [But] raising death duties is sadly a political non-starter."
Patrick Collinson, The Guardian
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
GSK share price surges after $2.2bn Zantac drug settlement
GSK has settled lawsuits in the US that alleged the drugmaker’s now-discontinued heartburn drug Zantac triggered cancer
By Chris Newlands Published
-
Will the Autumn Budget impact investment markets?
Keir Starmer has warned the Autumn Budget will be “painful”. Will it impact investment markets and should you tweak your portfolio before 30 October?
By Katie Williams Published
-
The charts that matter: bond yields and US dollar continue to climb
Charts The US dollar and government bond yields around the world continued to climb. Here’s what happened to the charts that matter most to the global economy.
By Ben Judge Last updated
-
The charts that matter: markets start the year with a crash
Charts As markets start 2022 with a big selloff, here’s what happened to the charts that matter most to the global economy.
By Ben Judge Published
-
The charts that matter: Fed becomes more hawkish
Charts Gold rose meanwhile the US dollar fell after a key Fed meeting. Here’s what else happened to the charts that matter most to the global economy.
By Saloni Sardana Published
-
The charts that matter: a tough week for bitcoin
Charts Cryptocurrency bitcoin slid by some 20% this week. Here’s what else happened to the charts that matter most to the global economy.
By Ben Judge Published
-
The charts that matter: omicron rattles markets
Charts Markets were rattled by the emergence of a new strain of Covid-19. Here’s how it has affected the charts that matter most to the global economy.
By Ben Judge Published
-
The charts that matter: the US dollar keeps on strengthening
Charts The US dollar saw further rises this week as gold and cryptocurrencies sold off. Here’s how that has affected the charts that matter most to the global economy.
By Ben Judge Published
-
The charts that matter: gold hangs on to gains while the dollar continues higher
Charts The gold price continued to hang on to last week’s gains, even as the US dollar powered higher this week. Here’s how that has affected the charts that matter most to the global economy.
By Ben Judge Published
-
The charts that matter: inflation fears give gold a much needed boost
Charts US inflation hit its highest in 30 years this week, driving gold and bitcoin to new highs. Here’s how that has affected the charts that matter most to the global economy.
By Ben Judge Published