Posted by Veronabob on February 05, 2023 at 20:07:24 from (174.231.23.114):
In Reply to: High prices posted by tractorkrum on February 05, 2023 at 08:00:15:
Prices on most things travel in cycles over time. All the free money the FED created in the last 10 years resulted in Government, Companies and individuals all buying more than they needed. This will probably not all end well. Individuals more than 60 days past due on vehicle payments is highest in many years and higher than 1908-09. I got my truck serviced recently and the Service Manager said he can't believe all the people he sees buying new vehicles with $1700 mo payments.
Eventually most things revert to their real value whether you are talking Real Estate, housing or living costs. I have seen toy tractors sell for $5000 to $10,000 recently. I would be a seller. not a buyer. I remember 30years ago p eople were standing in line to buy Hummel Plates for $400 each. Today you could not get .40 cents for one.
Today in many areas if you are making $15.00 per hour it will take more than half of that to pay your rent. Speculation is running rampant in many areas of our economy and people are only looking short-term.
Cash may become very valuable down the road and you can get 4% while you wait.
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