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 > We knew it was coming...

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notsobigjoe

southeast

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Posted: 07/23/22 01:00pm Link  |  Quote  |  Print  |  Notify Moderator

https://www.zerohedge.com/economics/all-sudden-it-came-halt-after-posting-fresh-records-just-months-earlier-rv-industry

BB_TX

McKinney, Texas

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Posted: 07/23/22 01:39pm Link  |  Quote  |  Print  |  Notify Moderator

Clicky

PButler96

Midwest

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Posted: 07/23/22 01:47pm Link  |  Quote  |  Print  |  Notify Moderator

And its going to be a lot worse than what they're predicting. The RV Industry always paints the rosiest of pictures.

The Fed is most likely to do at least a 0.75 hike next week. Next to fall off the cliff are home sales/prices and new vehicle sales.


I have a burn barrel in my yard.

bgum

South Louisiana

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Posted: 07/23/22 03:18pm Link  |  Quote  |  Print  |  Notify Moderator

I all truthfulness we need an adjustment in pricing. A small teardrop camper that sold for $8-9,000 is now selling for $22,000. Houses are now selling at more than double their previous price. Even if salaries had doubled those prices can not be sustained. Don't blame it on the price of oil. Capitalism making a buck by speculation.

JimK-NY

NY

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Posted: 07/23/22 03:26pm Link  |  Quote  |  Print  |  Notify Moderator

Don't be fooled by a plant closing. Sales are still about a third higher than before Covid.

In my area inflation and high gas prices have barely made any difference. Traffic is as bad as ever. Home prices are also a third higher than before Covid and have not dropped at all even with much higher mortgage rates.

2112

Texas

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Posted: 07/23/22 03:29pm Link  |  Quote  |  Print  |  Notify Moderator

WOW, read the comments, or shall I say comics at the bottom of that article. Not many RV lovers in that crowd


2011 Ford F-150 EcoBoost SuperCab Max Tow, 2084# Payload, 11,300# Tow,
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Lwiddis

Southern California :(

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Posted: 07/23/22 03:33pm Link  |  Quote  |  Print  |  Notify Moderator

All leisure industries go through cycles. I’m not concerned overall but sorry about those that won’t have jobs at least for a while.


Winnebago 2101DS TT & 2022 Chevy Silverado 1500 LTZ Z71, WindyNation 300 watt solar-Lossigy 200 AH Lithium battery. Prefer boondocking, USFS, COE, BLM, NPS, TVA, state camps. Bicyclist. 14 yr. Army -11B40 then 11A - (MOS 1542 & 1560) IOBC & IOAC grad


ticki2

NH

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Posted: 07/23/22 04:15pm Link  |  Quote  |  Print  |  Notify Moderator

It’s what usually happens when you saturate a market in a short period of time . The RV market went up 17% and now it’s predicted to go down by 8% , that’s a pretty healthy gain yet they are crying ??


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PButler96

Midwest

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Posted: 07/23/22 05:31pm Link  |  Quote  |  Print  |  Notify Moderator

JimK-NY wrote:

Don't be fooled by a plant closing. Sales are still about a third higher than before Covid.

In my area inflation and high gas prices have barely made any difference. Traffic is as bad as ever. Home prices are also a third higher than before Covid and have not dropped at all even with much higher mortgage rates.


Give it some time. The effects of inflation eat away at people's ability and desire to purchase things progressively, almost exponentially over time. Plenty of folks have started tapping into savings to maintain their standard of living, and even more have started to access credit to do the same, both are unsustainable and will run out, and the credit option is a double whammy with rising interest rates. A lot of people have never seen interest rates in their financial adult life that are going to where they're going to end up.

JimK-NY

NY

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Posted: 07/23/22 07:39pm Link  |  Quote  |  Print  |  Notify Moderator

PButler96 wrote:


Plenty of folks have started tapping into savings to maintain their standard of living, and even more have started to access credit to do the same, both are unsustainable and will run out, and the credit option is a double whammy with rising interest rates.


Maybe your predictions will come true eventually, but for now credit card debt is considerably behind where it was before the start of Covid. Personal savings rates shot up during Covid due to the massive stimulus packages but are still at about the average for the 20 years prior to Covid.

https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

https://fred.stlouisfed.org/series/PSAVERT

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