### Comment:
Wasn't that the same logic that propped the housing market to unsustainable levels? 
  
 With too many cars on the road and too few buyers, they could face massive losses.  
  
 Depreciation on autos is instant.  Add an oil price shock or a change in consumer preference ( Tesla &gt; German cars), and the value evaporates.

### REPLY:
Yeah I mean sorta parallel reasoning. Housing seems different in retrospect because you can’t move a house but you can take a car to a different area where demand is

### END.