I got this the other day from a friend in USA who sold his Cherokee about a year ago for about 67K USD, and bought a little homebuilt for about 10 or 12.
I had some texts with my friend X….. He says here the aviation bubble has burst… Airplane sales are grinding to a halt… He said if I was selling my Cherokee today, I could only get 50 grand for it and it would take 6 months to sell it…. People wanting to upgrade to a better airplane are not selling theirs because there are not enough planes on the market now.
The broker that sold my Cherokee for me, he basically has nothing to sell now. He is selling homebuilt projects for people or at least trying to… I saw a project he was trying to sell…. Total junk if you ask me…. X has been a broker forever, very successful. Sold a lot of corporate type aircraft, heavy and light twins, fast singles,,,That was most of his business… Now he is dabbling in homebuilts, but, really mostly projects that are junk….