Time To Sell ... Your SUV

I've written a few posts on the market but I have been deliberately silent during the ongoing meltdown. What more could I possibly add? Better to save all those valuable pixels for more important topics. Sure, like everyone else I'm hurting, but mostly because I did not do enough selling when I felt I ought to. Just like millions of others.

No, what I want to do right now is follow up on this article I wrote in late July. Unfortunately (or fortunately, depending on your viewpoint) the event I mentioned has come to pass. West Texas Intermediate crude is now under $90/bbl. This means it's time to sell your SUV.

With gas hovering around $1 per litre here in Ottawa those gas guzzlers no longer look so bad. That means we should expect resale values to rise. Except of course that with everyone's paper losses these last few weeks there may be few buyers for a while.

Things will get better though, and that means oil will very likely bottom and begin to rise again into 2009. So if you do have an SUV and you get a bid, you might just want to take it. Oil may never see $80 again.