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Wednesday, May 4, 2022

There Is A Lot Of Money Out There!

      During my work time, I had the occasion to drive by the Tesla distribution center near the house. A few days ago, I posted an op-ed on the 25% increase in the prices of Tesla models over the last 18 months. I estimated that some 100 Teslas were parked at the distribution center. When I drove by yesterday, the entire lot was packed with Teslas. I did not get out and make a count. I did make a mental estimate of 300+ cars. Normally a car does not hit the Tesla distribution center unless it has a buyer.

    This means to me that despite the higher prices and continuing skepticism about electric cars among car buyers, a lot more people are buying Teslas. This surprises me. There is a lot of money out there!

     Further proof came from a recent house sale on Beach Blvd here in Pacifica. One of our readers was the agent on this sale. No official figures or information is available as the transaction has not gone through close of escrow yet. Redfin.com is my "go-to" source of information on real estate values and sales. They estimate a sale price between $1,600,000 to over $1,800,000! Most amazing is these sales do not require financing. They are "all cash" purchases. Some people have "pockets full of money!"

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