Jump to content

Is it safe to say that COVID pricing is over?


scottyr
 Share

Recommended Posts

3 hours ago, Strong Farmer said:

That’s trend lately it seems. Actually sad since Canada is warming at twice global rate. We are seeing evidence now no doubt. No snow banks on 400 yet it’s almost December 😂
when I was a kid we go down 400 near New Years and banks be taller then car. Already a few feet of ice too. 

hopefully it lasts until April this year 🙏
 

Yeah, I'm no scientist, but I know what my eyes have seen in my almost 50 years and there is zero doubt winters are not like they used to be - call it whatever you want - but I am convinced something has changed.

  • Like 2
  • Sad 1
Link to comment
Share on other sites

Waiting for the "Boat" pricing to drop. In the market for a glass walleye boat.

 

 

  • Like 3
Link to comment
Share on other sites

  • 3 weeks later...

It's like most things. Prices rise in a hurray. Will take some time for them to drop back. There is lots of 2019 sleds up for $17k. Basically what they paid for them new.  I doubt they are selling.

 

 

 

 

 

 

 

 

 

 

 

 

Link to comment
Share on other sites

4 hours ago, RAMSOMAIR said:

Tons of pick ups on the lots now and just saw an add for $3000 off incentives. So increased inventory means discounts. It has started but will take a while. 

 

For vehicles there is little discounts being offered. I was just at the dealer this past weekend looking to buy a truck. Most dealers are saying " this is the price .. take it or leave it". On top of that Dodge trucks they just ramped up the price, and are offering big incentives to make it look like they are offering great deals. 

 

Hell they wont even good money on a trade in now, as they said the US market is now flooded with vehicles.   My 18 F150 was worth 54 during COVID, now they are stretching to give me $35 .. sigh .. 

Link to comment
Share on other sites

Yeah your trade in is pre- Covid. But they ram it to you when you buy. 
 

even used vehicles are way overpriced right now. I hope this comes full circle and bites the dealers in the ass 

  • Like 1
Link to comment
Share on other sites

20 hours ago, Blackstar said:

Is it over or not?

 

Ads I’m seeing seem high. Asking isn’t getting though.

 

maybe I just have to wrap my head around the new normal.

 

Asks are out of touch.

The market is correcting quickly.

 

  • Like 1
Link to comment
Share on other sites

3 hours ago, Spiderman said:

 

Asks are out of touch.

The market is correcting quickly.

 

Yup, agree. Low km, used high end diesel trucks at wholesale are down 20 percent or more compared to 6 months ago. Dealer lots are starting to have inventory of all trucks. Comin' around, but not on EVs and hybrids.

Snowmobile asking prices are a complete joke. Some reasonable prices really stand out against the dreamers. 

Link to comment
Share on other sites

Just now, tricky said:

Yup, agree. Low km, used high end diesel trucks at wholesale are down 20 percent or more compared to 6 months ago. Dealer lots are starting to have inventory of all trucks. Comin' around, but not on EVs and hybrids.

Snowmobile asking prices are a complete joke. Some reasonable prices really stand out against the dreamers. 

Some of the "dreamers" paid too much at the wrong time and are going to have to accept it's only worth what someone is willing to pay today.

 

People currently selling homes they bought in the last 5 years are having a very harsh reality check as an example.

There will be loads of inventory in everything soon - if you have cash on hand -you'll find some great deals.

  • Like 2
Link to comment
Share on other sites

2 hours ago, Spiderman said:

There will be loads of inventory in everything soon - if you have cash on hand -you'll find some great deals.

 

Has it not been said, this is when those with or have money, make a bunch more.....

  • Like 1
Link to comment
Share on other sites

7 minutes ago, stoney said:

 

Has it not been said, this is when those with or have money, make a bunch more.....

Acquire a lot more for sure

Link to comment
Share on other sites

2 hours ago, stoney said:

 

Has it not been said, this is when those with or have money, make a bunch more.....

 

Theyre not making $$$, just not wasting as much.  Gotta live though.

  • Like 1
Link to comment
Share on other sites

54 minutes ago, ArcticCrusher said:

 

Theyre not making $$$, just not wasting as much.  Gotta live though.

 

I am actually referring to those buying buildings, business', properties, etc....of significant value, but at a "bargain" price due to a bad or desperate market - increasing their wealth significantly in the not so distant future when things turn, making them that much more wealthier.

 

In the context of toys, vehicles, etc...., I agree, not really making anything, just spending less! 

  • Like 1
Link to comment
Share on other sites

10 minutes ago, stoney said:

 

I am actually referring to those buying buildings, business', properties, etc....of significant value, but at a "bargain" price due to a bad or desperate market - increasing their wealth significantly in the not so distant future when things turn, making them that much more wealthier.

 

In the context of toys, vehicles, etc...., I agree, not really making anything, just spending less! 

 

Ok for that I agree but there are many businesses bought out cause nobody is taking it forward.  My panelshop just got bought out cause the owner wants to retire.  Hard to find a match no matter what.  This downturn is gonna be brutal so be careful what you wish for.

Link to comment
Share on other sites

1 hour ago, ArcticCrusher said:

 

Ok for that I agree but there are many businesses bought out cause nobody is taking it forward.  My panelshop just got bought out cause the owner wants to retire.  Hard to find a match no matter what.  This downturn is gonna be brutal so be careful what you wish for.

That would be correct with less people willing to take that risk or take the initiative to run a business, especially when you look around at the manpower challenges most are dealing with. 
 

Not wishing doom or gloom myself, but unfortunately, many people are in bad spots with little to no buffer to carry them through the valleys when corrections come along. 

Link to comment
Share on other sites

I don't see the real estate market rebounding to where it was anytime soon. I think those days are done done

Link to comment
Share on other sites

11 hours ago, stoney said:

That would be correct with less people willing to take that risk or take the initiative to run a business, especially when you look around at the manpower challenges most are dealing with. 
 

Not wishing doom or gloom myself, but unfortunately, many people are in bad spots with little to no buffer to carry them through the valleys when corrections come along. 

 

Over 60% (>63%) of Americans are living paycheck to paycheck and that number is likely the same here.

 

With a recession inevitable in 2023 it won't take much to break the camels back.

Link to comment
Share on other sites

13 hours ago, stoney said:

That would be correct with less people willing to take that risk or take the initiative to run a business, especially when you look around at the manpower challenges most are dealing with. 
 

 

 

At least down here, even tho residential has been ridiculously high recently, commercial has been in the tank for several years. Not sure that it has actually gotten worse, as not much has changed hands. But what has sold in the last few years has been at 1/2 what it may have sold for 15-20 yrs ago. (same properties) And some (many?) of those still sit empty, as they were bought up by investors at those prices, but they are waiting for "the turn", but I'm just not sure that it is comming anytime soon, and for the reason that you mentioned.

 

Sure, there is "all this work out there to be had", but you can't git the help to complete the volumes that you used to do, let alone take on more. So "expansion" just wouldn't be a reason to move to a different facility.

 

I could see small shops being of more value as bigger ones tho, as this would be quite a time to go into business for yourself. If you know what you are dooing, and are willing to actually doo it yourself, and not count on hired help to doo the actual work - while you chase tail down at the watering hole, then there is a future for you out there. So the smaller properties would seem to be of more value to me. But again - not sure if much has changed hands at all the last few years. But I expect this labor shortage to remain for the next 10 yrs. I don't know what would happen to change that?

 

 

 

 

Quote

  13 hours ago, stoney said:

 

Not wishing doom or gloom myself, but unfortunately, many people are in bad spots with little to no buffer to carry them through the valleys when corrections come along. 

 

Anyone that wanted to, could have made a LOT of bank in the last 2 years. If your job wasn't the type that had overtime available, there were forty-leven other places around that were begging for help, and they would have taken you in a heartbeat for as many hours as you were wanting. Half of second shift? SURE! Weekends? SURE! 

 

Those jobs are still out there yet, but I don't know that many are actively begging anymore, but have learned the reality of the market, and have been lightening their workload to better match their new/lowered capacity. But I am sure that anyone that actually wants a 2nd job, or overtime, can still git all they want - if they actually "want".

 

BUT - if you plundered for the last 2 years, and bought stuff at accelerated pricings, and especially if you bought it on time, and are counting on "Stoopid" to last forever, then you likely will fail, and others will be happy to pick up the pcs.

 

I have been wanting to pick up an ATV for a few years now, but honestly haven't had the time to ride one anyway. I just figgered that if the time comes when we have time to go, I can pick one up on the way to wherever we are going. 3-4 yrs ago my chum bought a brand new hold-over 570 Sportsman with fancy wheels and pwr steering for $6K out the bleeding door! BUT - we had to pick it up by EOB on 12/31.... So we had to drag a trailer with us on the way to go sledding in Colorado, and likely left a day sooner than we would have liked to - to make that happen, but eh...

 

Try to buy that same ATV this last year? = LOL!

I figger I'll be able to buy it "slightly used" next year (?) at a greatly reduced price again. I doo wonder aboot the issue of buying a machine with a lean on it tho?

 

Just glad that I got a new sled back in '18!

 

 

.

  • Like 2
Link to comment
Share on other sites

13 hours ago, stoney said:

That would be correct with less people willing to take that risk or take the initiative to run a business, especially when you look around at the manpower challenges most are dealing with. 
 

Not wishing doom or gloom myself, but unfortunately, many people are in bad spots with little to no buffer to carry them through the valleys when corrections come along. 

 

2 hours ago, Spiderman said:

I don't see the real estate market rebounding to where it was anytime soon. I think those days are done done

 

Likely not and I hope not, just back to steady small increases year after year that are manageable.

I am not sure where or how the commercial side of things stand though where we are dealing with much bigger numbers.

 

2 hours ago, ArcticCrusher said:

 

Over 60% (>63%) of Americans are living paycheck to paycheck and that number is likely the same here.

 

With a recession inevitable in 2023 it won't take much to break the camels back.

 

I am not 100% sure on this, but I always thought Canadians generally did not carry the same debt load as our friends south of us - I am sure it has increased though as of late.

Living paycheck to paycheck has been something that seemed to be on the rise for sure.

Ideally before the back breaks, people can self reflect on the wants vs. needs to get through the valley by making adjustments.

I am or was seeing lots of info on people looking to increase their amortization period on their biggest debt, which may have been what helped them buy that car, SUV, cottage, etc.....recently that they wanted when things were grossly inflated.

  

 

Link to comment
Share on other sites

28 minutes ago, Ox said:

 

Anyone that wanted to, could have made a LOT of bank in the last 2 years. If your job wasn't the type that had overtime available, there were forty-leven other places around that were begging for help, and they would have taken you in a heartbeat for as many hours as you were wanting. Half of second shift? SURE! Weekends? SURE! 

 

Those jobs are still out there yet, but I don't know that many are actively begging anymore, but have learned the reality of the market, and have been lightening their workload to better match their new/lowered capacity. But I am sure that anyone that actually wants a 2nd job, or overtime, can still git all they want - if they actually "want".

 

 

Getting people to work extra OT has been a problem for a long time - there are always the same people that want too and the rest have zero interest.

Other huge issue as of late of trying to get people to work evening or night shifts - we have to turn away work from some clients if it is night work due to lack of people willing to work that shift. We pick our battles on who we want to service in that department as a result of it. Which I hear the same from others, being far more selective on what business is now taken on where in the past, never say no, even if it meant swapping 4 quarters for a dollar....

 

My brother just went to Bermuda for a few weeks or a month to work to try it out and see what it was about - says there is a ton of work to be done there, but not able to find the people to do the work.

Sounds like out of country contractors are cheap compared to the local workforce due to the high cost of living there using the local resources, even with the travel piece worked in to contractors from another country. 

Link to comment
Share on other sites

1 hour ago, stoney said:

 

 

Likely not and I hope not, just back to steady small increases year after year that are manageable.

I am not sure where or how the commercial side of things stand though where we are dealing with much bigger numbers.

 

 

I am not 100% sure on this, but I always thought Canadians generally did not carry the same debt load as our friends south of us - I am sure it has increased though as of late.

Living paycheck to paycheck has been something that seemed to be on the rise for sure.

Ideally before the back breaks, people can self reflect on the wants vs. needs to get through the valley by making adjustments.

I am or was seeing lots of info on people looking to increase their amortization period on their biggest debt, which may have been what helped them buy that car, SUV, cottage, etc.....recently that they wanted when things were grossly inflated.

  

 

Commercial stinks.

Lack of tenants - lack of tenants paying rent.

 

Link to comment
Share on other sites

20 minutes ago, Spiderman said:

Commercial stinks.

Lack of tenants - lack of tenants paying rent.

 

LOL - ya especially now with so many offices sitting near empty.

I did see the feds are finally forcing people back to the office in March 2023 though!

I have clients closing, but mostly reducing there footprint in many office spaces - that 90% of them are empty anyways.

 

Link to comment
Share on other sites

56 minutes ago, stoney said:

LOL - ya especially now with so many offices sitting near empty.

I did see the feds are finally forcing people back to the office in March 2023 though!

I have clients closing, but mostly reducing there footprint in many office spaces - that 90% of them are empty anyways.

 

Saw that, then the next day saw the Unions for those employees are going to challenge them being forced back lol:

 

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...