Earlier quoted context omitted.
Yeah I've never lived in SF but I understand that the economics are different out there. Once you have a note on a million dollar house, what's another $80k for a car? It barely moves the needle. But when your mortgage is only $1k/mo and then you have to spend another $1k/mo on a car (before insurance or "fuel" or anything else) you might start to wonder. I've got a Subaru and I figure that car will cost me about $15…
Actually I do live in SF. If you put a million dollar note on a house you are the mother of all house poor. One point I make is the Tesla is luxo-sport car. Costs a lot new like any other sporty car. So the cost of a new Tesla vs a used gasoline power car isn't really a fair comparison. Looking on Craigslist, you can get a used Nissan Leaf $10k, cost per mile is $0.035. One can run numbers but the cost of ownership i…
I guess that's kind-of my point. If millenials can't afford to buy houses they're probably not buying luxo-sports cars. It's not that a Tesla is a bad idea, it's just that the idea that millions of young people with no real assets are going to buy them is a fantasy.
I would suggest that it's roughly as silly as saying pretty soon all the millenials are going to be driving 5 and 7 series BMWs. Not unless those cars come down in price by 80%-90% or everyone somehow magically gets rich AND there's no inflation.