poor CNN, having to post that news
If the media was doing it’s job, it would talk about every industry being a monopoly. with the illusion of competition. But the media is a monopoly as well…so, cant have that.
Inflation high…corporations reporting record profits.
Even if demand is normal… the fact that inventory is low is driving prices up.
It’s only up for used because new is low. If we had more new cars, used car prices would drop.
I traded in a car, made money, then ordered the exact same car, new. The only downside is I have to wait 90th days. Cars are usually impulse buys, so if you have patience… you can get a new car for invoice.
That seems to be what I am seeing as well or just inflation is averaged in by region. The house prices here are doubled regardless of what our local news which states prices are up 20-25% after two years one can simply go to Zillow and see literally every place for sale has doubled in price from just a few years ago. They are even doing the thing as in 2007 were one contractor buys from another just puts down some new paint and puts at back on the market for $30,000 more rinse and repeat. I don’t think these numbers are fit for purpose and it is quiet a bit higher than 7%.
Yes. I am also familiar with owning a business. You sell at the highest price people will pay regardless of supply.
It’s true inflation has risen world wide but we are one of the worst ones hit according to pew. Some countries are facing way less shortages and lower prices than we are.
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Yes that’s the demand side…
Which is why I said if the demand persists despite higher prices there is no incentive to sell lower if supply increases. At least not right away, over time competition, of which there isn’t a plethora of in new cars business, will drive it down but it certainly won’t be immediate.
You will not be seeing a top end video card for 800 bucks in the near future for the same reason.
Supply and demand, you know market forces.
Allan
We will see incentives to get cars off the lot in a few years.
Once the market has normalized.
Allan
No they aren’t. They are due to the government reaction to the virus
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I don’t care how many of something I have, if plenty of people are willing to buy a grain of sand for a hundred bucks, that’s the price I will set. And I will not lower it until my competition does. How many competitors are in the new car business or the video card business? Don’t expect prices to return to pre inflation prices quickly if at all.
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A vital distinction.
Most definitely. Most folks are aware the 7% isn’t coming close to what the actual out of pocket costs are.
Wage increases are great when prices stay the same, aren’t they? 
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Eventually everything will return to normal. Inflation is cyclical. How long do you expect inflation to last?
Allan
You see that last word in your sentence. Matches my last word.
Of course it’s due to the government reaction.
Like a fever is a body’s reaction to a virus.
Both are because of the virus.
I am not sure why in the heck that needed to be explained
It didn’t. Do I need to explain to you that those are two different things?
No it won’t. Define “normal”.
They are and they aren’t. In many ways neither the government nor the body can help but react for better or for worse
