Have you seen prices going up lately? Housing, lumber, cars and appliances all seem more expensive and in short supply. I've also noticed fewer discount coupons at some retailers and have a feeling Labor day discounts will be weak.
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Signs of inflation?
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My own observations:
Have you observed the prices of ammunition and firearms? It’s absolutely insane. As somebody who is involved into tactical gear and ammunition, a 45 ACP round is selling for $.88 a round (When the norm is ranging from $.30-$.40 a round). For example, one of my handguns is a Springfield XDM 45 ACP, which usually would range for about $579, is selling for almost $1800. Yeah, I’d say ‘Inflation‘ is understated. I just sold excess stock of my bulk ammunition in 50 ct. and 100 ct today (I had L.E demo stock north of 12,000 rounds) , and I walked away with a very healthy margin, given I did take advantage of the market right now.
Also, I can’t even get pool accessories (Nets, floatations, chemicals) is highly limited or ‘out of stock‘.
The housing market is on fire in my region, as a matter fact, houses are actually selling for more than what they’re worth, and buyers are paying some sellers over their asking price.
I don’t camp, (More like ‘glamping’ for me 😁)camping is big in my state. Most, of not all is completely sold out of camping accessories Have been sold out since Memorial Day.
As for the used car market, I’m looking at trading in my Sonata, and I talked to a few ‘local dealers’, and they said they can’t find enough used, good quality cars, as they are selling left and right. When car dealerships were closed for -sales- during the quarantine, when they re-opened, consumers were using their stimulus checks in the used car market, which kind of ignited what we’re seeing now.
As for lumber, my neighbor build decks for a living, He doesn’t use your typical ‘hardwood lumber‘, he uses synthetic wood for more ‘higher end’ decks, but he mentioned that the hardware for the decks is hard to come across right now, given the shortage from the factories that reduced staff due to C/19.
Even automotive shops have shortages of parts from suppliers, With factories that have ‘cut back’ on employees, therefore is resulting in less production of parts for auto repair.
Have you observed the prices of ammunition and firearms? It’s absolutely insane. As somebody who is involved into tactical gear and ammunition, a 45 ACP round is selling for $.88 a round (When the norm is ranging from $.30-$.40 a round). For example, one of my handguns is a Springfield XDM 45 ACP, which usually would range for about $579, is selling for almost $1800. Yeah, I’d say ‘Inflation‘ is understated. I just sold excess stock of my bulk ammunition in 50 ct. and 100 ct today (I had L.E demo stock north of 12,000 rounds) , and I walked away with a very healthy margin, given I did take advantage of the market right now.
Also, I can’t even get pool accessories (Nets, floatations, chemicals) is highly limited or ‘out of stock‘.
The housing market is on fire in my region, as a matter fact, houses are actually selling for more than what they’re worth, and buyers are paying some sellers over their asking price.
I don’t camp, (More like ‘glamping’ for me 😁)camping is big in my state. Most, of not all is completely sold out of camping accessories Have been sold out since Memorial Day.
As for the used car market, I’m looking at trading in my Sonata, and I talked to a few ‘local dealers’, and they said they can’t find enough used, good quality cars, as they are selling left and right. When car dealerships were closed for -sales- during the quarantine, when they re-opened, consumers were using their stimulus checks in the used car market, which kind of ignited what we’re seeing now.
As for lumber, my neighbor build decks for a living, He doesn’t use your typical ‘hardwood lumber‘, he uses synthetic wood for more ‘higher end’ decks, but he mentioned that the hardware for the decks is hard to come across right now, given the shortage from the factories that reduced staff due to C/19.
Even automotive shops have shortages of parts from suppliers, With factories that have ‘cut back’ on employees, therefore is resulting in less production of parts for auto repair.
My anecdotal observation is people have shifted their spending. Houses and home improvement materials, RVs, boats, bikes...gone or expensive beyond reason. Haven’t heard this about cars but I haven’t been shopping.
Hopefully this’ll lighten up if/when people start spending $ on going out and travel again.
Yes.
And food prices also.
I would estimate that certain food items are around 20-25%, if not 30% more expensive than they were at this time last year.
We've also got a lot of Shrinkflation. The same price point but less product (often in the same size box). Just about everything you buy these days seems to be suffering from this. I'm beginning to think that a lot of the jars and cans in our supermarket are beginning to resemble those miniature versions you used to find in the kitchen playsets you buy for toddlers.
I don't think the price of firearms and ammo is due to inflation. That's due to absolutely unprecedented demand over the last few months.
Cars though are just stupid expensive now. You used to be able to pick up a decent beater for around $3k-$4k in my area and now those cars are all $8k minimum. I just started looking around again and was shocked at the absolute dumpstermobiles people are selling for $8k-$10k.
The biggest one I notice is sales on things are rarer, and if they exist, they aren't as great as they used to be.
The one I hate more is when they sluff on quality. At least with shrinking, it's still good. I definitely am not buying something anymore that tastes like crap now.
Lowe's Beats Sales Expectations as Home Improvement Spending Surges
Lowe's Cos Inc blew past analysts' estimates for quarterly sales and profit on Wednesday as it benefited from a surge in demand for paint, tools and barbecue grills from consumers stuck at home due to the COVID-19 pandemic.
Home Improvement Activity Increases During COVID-19
Research from the Home Projects Council and Consumer Specialists shares trends tied to increased home improvement activity during COVID-19.
www.businesswire.com
At Home Depot and Lowe’s, Home-Improvement Splurge Can Go On
The same factors propelling the housing market are boosting home-improvement retailers.
www.wsj.com
On the other hand it's a happier moment shelling out for cheaper contracts on heating fuel for the 2020-21 season.
Takes some of the edge off that annual feeling of "how can it be end of August, and where did summer go?!"
Takes some of the edge off that annual feeling of "how can it be end of August, and where did summer go?!"
New and improved recipe usually means cheaper ingredients and defiantly not an improvement!
Yes I've noticed package prices getting smaller whilst prices staying the same.
Not bought any big ticket items in a while, but yes I can imagine they are going up. House prices continue to rise, but I don't mind. Bought this place in December and plan to leave here in a box!
Yes I've noticed package prices getting smaller whilst prices staying the same.
Not bought any big ticket items in a while, but yes I can imagine they are going up. House prices continue to rise, but I don't mind. Bought this place in December and plan to leave here in a box!
Cheaper heating fuel? "You lucky, lucky, B******" (Sorry, couldn't resist a bit of Monty Python). Here they've even stopped selling Calor gas (camping, patio heater, and caravan (trailer) gas) to new customers due to demand and lack of supply. You have to have an existing cylinder(s) to exchange or refill. There's so much stuff here that's just out of stock everywhere...
I'm beginning to think (at least in the UK anyway) that we've all been sent back to a weird version of the 70s - but one where everyone has a mobile phone instead a single house phone and a typewriter. No-one is going abroad on holiday, every trip to the supermarket is a financial shock and we're all munching our way through stock piled cans of food, shops are closed more than they're open, the cities are becoming uninhabitable (there's lots of life and style stuff about escaping to small-holdings and communes in Wales) and everyone with a job is on a 3 day week and knows they're about to be unemployed... I'm hoping that soon the 80s turn up - at least the music will improve...
Yes but the shoulder pads and obligatory mullet will make you a laughing stock!
I have to say don't believe everything you read. We are having our best year in ages. 3 day week? I'd be happy to cut down to the 5 I'm paid for!
As for not going abroad on holiday, I had my first 4 day holiday abroad last year in decades. I travel for business a bit more, but those are defiantly not holidays! I'd imagine flights are pretty cheap at the moment. But who wants to risk it?
My finance professor kept a separate worksheet where he’d ask students for prices each year—because they say inflation is at a low, yet things (around our city anyways) seem to go up.
price of transportation (train), coffee, etc.
price of transportation (train), coffee, etc.
Labor costs keep getting higher, so that may be the reason for those price increases instead of inflation.
While theoretically possible it’s rare. Banks and lenders won’t fund loans that exceed their appraised value. But cash makes anything possible. If a buyer is willing to make up the difference and pay more than fair market value then more power to them. There’s not many people willing to do it.
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Ah the Year of the COVID.... when toilet paper is coveted more than gold.... something is wrong.
That could be temporary. Firearms and ammunition seem to behave a lot like commodities, so you get this kind of thing during spikes in demand.
Are they actually moving for that? People list a lot of **** that may not actually move.
Sometimes a price goes up and even when it does, demand doesn't fall by much... stuff like legal but potentially addictive substances like cigarettes or beer.
Other things have more price-elastic demand... "We're never payin' that for THAT, are we?" My grandma used to laugh when I'd say that in the supermarket with her. "Maybe not today..." was always her response.
The chair of the economics department at my school taught a 101 class to keep his hand in, and in discussing price elasticity or lack of it, always asked students how many of them smoked cigarettes, counted the raised hands, then asked how many would quit if the price went up, counted raised hands again.
He nailed us at term end by asking again how many of us who were smokers had quit yet. Of course none of us who smoked had become ex-smokers over a nickel a pack bump...
It was funny at the time but not so much during some unsuccessful attempts to quit smoking, when that professor's questions would come back into my mind. I finally got the hang of being a non-smoker, but wonder how many of my classmates who may still be smokers have also remembered raising their hand when he asked if they'd quit when the price got to 45c a pack. And yeah, I've heard myself say I'd never pay north of $2 for a pack of cigarettes. And yeah, I quit 20 years ago and was paying over $3.25. Now I think it's over $6 and mostly tax as an effort by governments to convert the demand curve for cigarettes into one that is in fact more price-elastic.
Agreed, with the pandemic and looters/rioter/civil unrest causing all the 2A haters & left wingers to start purchasing arms and ammunition for the first time in their life, it's causing a huge inventory issue.
Also, with Biden looking ominous in taking over the WH, all the hunters, self defense, recreational and competition shooters are all stocking up...
Cars on the other hand, I am finding good deals on new cars. Used cars pricing is a joke!
Bad time to build that deck!
"Lumber has surged from $250 per thousand board feet last year to over $900 today, amid an explosion in both homebuilding and buying."
www.cnbc.com
"Lumber has surged from $250 per thousand board feet last year to over $900 today, amid an explosion in both homebuilding and buying."
Insana: Why the Fed's new inflation policy could backfire
Certain often-overlooked markets may be telling us that the Fed's new policy framework is going to have some unintended consequences.
This exactly what I have been saying to my brothers for the past few months, siren the advent of travel restriction; it feels like a weird alternative reality 70s, (people are better dressed, wear better clothes, have better tech), but nobody is travelling for holidays, (or work), people are realising that prices are rising and wallets shrinking, apart from international travel, internal travel in one's own country - one's geographical range - is also incredibly restricted, as is one's social life.
The lack of arts - live theatre, music acts, concerts, exhibitions, - that too, has unspooled back to a state I remember from the 70s, when heading out to see a play, or attend a concert, was a rare (and cherished and enjoyed) outing.