What's happening to prices???

[DaDoc]

12 months ago I purchased a brand new Chevy truck..
Just before the chip shortage....
I "built" the truck online, exactly how I wanted it. Nothing more, nothing less.
To my surprise, MY truck was available at a dealership not too far away...
After a few test drives, and some haggleing, I signed the dotted line and now its in my driveway...
NOW when I attempt to "build" the exact same truck online, I can not find one within a 1000 mile radius, and the price has increased 20%!
And the dealership keeps sending me postcards wanting to buy it back, at a slightly higher price than I paid.
Never in my life-time would I have ever thought this possible.

It's just like the ads we get in the mail proclaiming "We want to buy your house!"

And they will, too. So, someone who has a paid for home gets bedazzled by the fact they're being offered wayyy more money than they paid for their place when they bought it years ago..BUT, when they go to buy another house they find out there's nothing they can afford without taking out a BIG mortgage.

And thus, a lot of folks that have a paid for home don't do their homework and fall for this, and find themselves SOL.

 

[speyfly]

It's just like the ads we get in the mail proclaiming "We want to buy your house!"

And they will, too. So, someone who has a paid for home gets bedazzled by the fact they're being offered wayyy more money than they paid for their place when they bought it years ago..BUT, when they go to buy another house they find out there's nothing they can afford without taking out a BIG mortgage.

And thus, a lot of folks that have a paid for home don't do their homework and fall for this, and find themselves SOL.

Just as a comparison, bought my 1300 sf home in 99 for 98K (stole it, 50K under the tax assessment), now it would sell for over 500K. Housing has gotten out of hand!!!

EDIT: I stated that "I stole it" but I would like to clarify...

The place was built in 1955, owners bought it new, they passed away in 1997, son took over and rented for a couple of years putting no time or money into it to bring it up to date. I knew the son and he wanted to sell it but but it needed a ton of work thus I bought it for a fare price but it was a great deal for me. I paid cash so there were no realtors or lawyers so that saved a bunch. The bones were solid but everything was original, with a lot of sweat equity it's really a very nice home now.

 

[wakjob]

Normally I'm a pretty good saver..."save that money!".
But lately it doesn't make any sense to be cash heavy. Especially in a bank.
As they print, prices go up, and my dollars are loosing their purchasing power.

Just spending the money buying stuff isn't the answer either.
Safe haven assets are the play for me right now.

 

[DaDoc]

IMO, right now some of the best assets one can have is a good stash of food, water and ammo.

Gold and silver would be good too, if one can afford it..Actually it seems these days is ammo is getting as valuable as gold, and if the SHTF it will be far more useful, both for defense and as a barter item.

 

[Lo-Tek]

I am not sure there is anything we as consumers can do to help.
Like you I also am a poor consumer, hanging on to things, not changing just on a whim.
If the price is not within my budget I am able to walk away, these guys in the retail trade need to make a living I know. In normal times they are selling goods making a living but at this time it can't be easy for them. OK so they have probably had the good times and able to make good money because us consumers have disposable income and prepared to spend in their shops. I am sure those times will return if they are able to hold station and stay on the high street. My walking away doesn't help them but I like others have to prioritise where I spend my money and unfortunately guitar equipment is very low on my list of priorities. After all it is only a hobby for me.

Of course the mail order businesses have been doing great. I have heard lots of reports of record profits. I saw a story (could be false of course) that said Bezos has made enough money during the pandemic that he could give ALL employees a 100k bonus and his wealth would be the same as it was before the pandemic. lol
Retailers around here haven't done too bad. The restaurants have been hit harder here.
Still a large worker shortage around here but personally I think people are just sick of crappy pay. Though I don't know how people have been getting by. The unemployment exemptions are all over.

" You'll own NOTHING and you'll be happy" so says Klaus. At these prices they are prolly right.

Except one of the reasons the supply chain is F'ed up is people have been buying sooo much during the pandemic. People are still buying stuff. Do they need it and can they really afford it? I don't know....

 

[El Gringo]

I know I should have acted sooner BUT.
I have been looking at the Digitech trio plus, made the decision to purchase one at £179:00 at this price I am thinking it's pricey. Decided to travel to the outlet closest to me at the weekend, their website advertised price £179:00 and they have 6 in stock great.
Three days later on the Saturday I just check they still have stock yes 6 in stock at £283:00. I don't think so, that price counts me out.

Wow , that's mind blowing at such an increase .

 

[El Gringo]

I'm pretty much done with gear as far as buying anything till things get better, if they ever do..Staples like Gas, food, ect. are getting so expensive it's going to limit the toys for me, at least in the foreseeable future!

+ 1 on the reset..

You and me both , plus having to get new wheels has further tied me up .

 

[El Gringo]

What can you do? Unfortunately we are still in the middle of global pandemic.
China just implemented large scale lockdowns again. That won't help.

There is a story line that maybe Omicron could be the last big covid wave; that's rather premature.
There could easily be another (potentially worse) mutation.

The high price of consumer goods does not bother me since I have always been a terrible consumer. I just don't buy stuff and keep the things I do have for a long time.
What does suck for me is the prices of houses in this area.
My other concern is the possible long term effects to the health care system.

Oh yeah we are F$%^ed for sure . I can't even begin to say that I see light at the end of the tunnel as it's cold cruel winter time .

 

[El Gringo]

Yeah, I have to agree with you, good time to sell. I review CL daily and I really can't see pricing going much higher in the short term, catch the wave!

You would be surprised as I think we have not hit the ceiling on prices one bit .

 

[El Gringo]

12 months ago I purchased a brand new Chevy truck..
Just before the chip shortage....
I "built" the truck online, exactly how I wanted it. Nothing more, nothing less.
To my surprise, MY truck was available at a dealership not too far away...
After a few test drives, and some haggleing, I signed the dotted line and now its in my driveway...
NOW when I attempt to "build" the exact same truck online, I can not find one within a 1000 mile radius, and the price has increased 20%!
And the dealership keeps sending me postcards wanting to buy it back, at a slightly higher price than I paid.
Never in my life-time would I have ever thought this possible.

It's crazy for sure . Last fall I needed new wheels and I started looking at selections and prices . Well prices for anything I wanted used started at 18k and went all the way to 25-27k . Which was no way I was paying that much coin on a used vehicle . So I had to order a new one and hold my hand on my posterior and wait and it cost $30,600 .

 

[Old Punker]

...
What does suck for me is the prices of houses in this area...

You think it's bad where you live? Check this out (Toronto, Canada)

https://toronto.ctvnews.ca/this-tiny-toronto-house-just-sold-for-800k-over-asking-1.5072243

And that was the price in 2020. They've increased substantially since then!

 

[Old Punker]

The ones in power will ALWAYS have plenty, at the expense of the rest of us..WE'LL be the "ones with nothing", and they could give a damn if we're happy or not!

 

[jmp45]

Nice this hasn't got locked. Our Republic is being dismantled daily in many ways. It's a full time job just to keep up with all the fail.

 

[Lo-Tek]

You think it's bad where you live? Check this out (Toronto, Canada)

https://toronto.ctvnews.ca/this-tiny-toronto-house-just-sold-for-800k-over-asking-1.5072243

And that was the price in 2020. They've increased substantially since then!

Wow! That is extreme. House prices here have basically doubled but the other half of the problem is there is nothing for sale.

Nice this hasn't got locked. Our Republic is being dismantled daily in many ways. It's a full time job just to keep up with all the fail.

Sad part for me is I feel like it just keeps slowly getting worse. I just view the current situation as an extension of what has been happening my whole life. A slow, steady decline.
Maybe that's overly pessimistic.....

 

[Old Punker]

...I just view the current situation as an extension of what has been happening my whole life. A slow, steady decline.
Maybe that's overly pessimistic.....

No, not overly pessimistic, I feel the same way. Maybe we are both Realists.

 

[ricksdisconnected]

Just as a comparison, bought my 1300 sf home in 99 for 98K (stole it, 50K under the tax assessment), now it would sell for over 500K. Housing has gotten out of hand!!!
.

this should be a HUGE sign to all. well, for those with their head above the sand anyways.

 

[Tatzmann]

All it needs to ramp up them used
prices is couple sucky youtube vids and
a greedy bastard on craigslist or similar
page.Afterwards offers follow suit.

Was interested in an old Peavey vtm atm,
they are quite rare at my place, pop up
maybe every 3 years and were between
3 and 500, which was already too much
for this amp, now its at 1000€$ and some
moron is going to bite.

Eff that.

I get a Windsor for cheap and make a clone.

 

[saxon68]

Everything is moving to subscription model. Cable, phones, software, services, etc.

Soon you’ll be able to rent a tube stack for home use, they’ll handle the maintenance.

 

[DaDoc]

All it needs to ramp up them used
prices is couple sucky youtube vids and
a greedy bastard on craigslist or similar
page.Afterwards offers follow suit.

Was interested in an old Peavey vtm atm,
they are quite rare at my place, pop up
maybe every 3 years and were between
3 and 500, which was already too much
for this amp, now its at 1000€$ and some
moron is going to bite.

Eff that.

I get a Windsor for cheap and make a clone.

Right now if one wants an old '70's era Marshall head, they're going to pay the same amount or more than they would have paid for a '69 Plexi not too long ago.

If everyone would just stop paying these stupid prices for gear it would come back down eventually, but like you said some moron will bite.

 

[GregM]

How unpopular do I want to be ? Apperently very !
If you have more than 2 kids , you are the problem . Not the government , not this or that , you !
More people than goods , more people creating this false economy , more people spending money they don't have , or spending money they do have driving prices higher for those that don't have .
If the world isn't overpopulated the way it is now , life would be like the " Good Old Days "
But it's not because it's been fucked up with too many people .
Ok rant over !