Price Hikes

[rtparty]

Finance and economy my arena. Bottom line. Stop paying it. We the consumer our own worst enemy. So long as the demand accepts the heighten prices they will keep rising. Although to some extent unavoidable because their cost also rise but I'm sure there's gauging going on or at a minimum recovery for losses during 2020. Why best reset is a recession. Empty pocket consumers can no longer hurt themselves yet don't see one coming.

Try API. Not precise. Close enough. Been using it since the 80s, although that also has gone up. :angry-face:

Few, if any, companies in this industry lost money from 2020. The hobby had the largest growth and influx of money it has ever seen. It’s why all the major players sold out. One big retail shop didn’t grow well with the others so they sold as well.

 

[GARRIGA]

Few, if any, companies in this industry lost money from 2020. The hobby had the largest growth and influx of money it has ever seen. It’s why all the major players sold out. One big retail shop didn’t grow well with the others so they sold as well.

Speaking in generality to buyers. We keep buying and sellers will take advantage of it. I would until it was no longer an option.

 

[workhz]

It’s a game of chicken to some degree. If prices are high then maybe a new competitor enters the market or an existing competitor lowers price. I read somewhere that carrefour in France took Pepsi products off the shelves.

I don’t think you need a full blown recession to get things in order as that’s not exactly victimless either.

 

[reef tank 2.0]

This is the same type of discussion that are being held on other hobby type forums. I have a few other hobbies, but one of the biggest hobbies I'm into is baseball card collecting. The prices on some of the boxes, are ridiculously priced. Many collectors have had to scale back what they buy. That hobby is not for kids anymore. I don't understand how kids can afford the hobby, especially ones that are in school or have a low paying job.

This reef tank hobby is not cheap at all. You have to ask yourself, how much do you enjoy the hobby, in order to keep it going. I'm assuming for most of us, we pay what we have to in order to keep our hobby alive.

 

[Derrick0580]

Inflation, interest, insurance, and taxes among other things are killing my income! We refinanced our house during covid, but due to increased taxes and insurance we are right back to where we were before refinancing. Our car insurance went up and when I called to ask why I was told it was due to the cost of replacement parts going up even though I have no claims. The interest rates are what gets me the most. I bought a new wrx in 2018 for 40k and the payment was $410.00 a month. We looked into buying the lease out on our 2021 Silverado and the remaining purchase amount is 33k and the payment would be over 1k a month which is absurd imo!! I said years ago when people started crying that they needed $15 an hour to flip burgers that it would be the end of our economy because you can expect that $1.00 burger to become a $7.00 burger. These companies that are being made to pay their employees more aren’t going to take a profit cut, so the money has to come from somewhere, either buy cheaper parts or raise final prices. Of course they could do what the non union car company I work for did, get cheaper parts AND raise prices and try to gaslight employees into thinking the piddly 6% raise they gave us was because we deserve it and not because they are deathly scared of us voting in a union. Call it whatever you want, it boils down to one thing….corporate greed!!

 

[workhz]

The interest rates are what gets me the most. I bought a new wrx in 2018 for 40k and the payment was $410.00 a month. We looked into buying the lease out on our 2021 Silverado and the remaining purchase amount is 33k and the payment would be over 1k a month which is absurd imo!!

Something doesn’t quite add up. Plus rates on a new car vs a used car have never been equivalent.

A 40k new car at 2% over 5 years is $700/month. It sure where you get $410 unless you put money down but once you put money down you may as well say it cost $1/month since you out $39k down.

A used 33k car at 10% (pretty high unless your credit is absolute crap) over 5 years is also $700/month

So … what else in your comparison isn’t apples to apples.

 

[Derrick0580]

I’m pretty sure I’m below 2% on the car because I used my personal bank and have great credit. The 1k on the truck was them running a rough estimate because we still have 3 payments to make on the lease, but told us we would still need around 7k down on top of that to keep the payment at $650. Tbh I’m thinking they were pulling numbers from their butt just so we would just let the truck go back and they can buy it cheap and flip it to make 10 grand reselling it as it is in immaculate condition.

 

[workhz]

I’m pretty sure I’m below 2% on the car because I used my personal bank and have great credit. The 1k on the truck was them running a rough estimate because we still have 3 payments to make on the lease, but told us we would still need around 7k down on top of that to keep the payment at $650. Tbh I’m thinking they were pulling numbers from their butt just so we would just let the truck go back and they can buy it cheap and flip it to make 10 grand reselling it as it is in immaculate condition.

At zero % on the car over 5 years and you're at $666. Heck, even a 7 year loan at 0% and you're at $476 ... so must've put something down. Diff rates, diff down payments, possibly diff terms. Not trying to nitpick but if rates are what get you the most then maybe they shouldn't if this is your example :)

 

[riche]

Something my old man used to say and he has been gone since 93 The Rich get Richer and the poor get poorer!

The middle class in our country has gone to the grave, there are a lot of what I would call old school middle class people who are living way outside of their means. They see there neighbors buying a new truck or a new camper etc and they have to try to keep up.

The only ones that are winning from this are the companies that make what ever they are buying.

Look at the latest craze right now the pink Stanley mug. Because some group online talked about them people are going out of there minds to get one. Here in metro Detroit there was a line a a target that started at 3am to buy one and now they are selling them for 3-4x the retail price because there are people out there willing to pay the price just so they can have one.

These companies are able to raise prices because people are willing to spend what ever to get what they want and the end user is paying for it.

If you live with in your means life is a lot more simple, but if you are trying to keep up you will always be behind.

I want a brand new truck but I know I can’t afford it, I see people around me taking on payments for new trucks that are close to what my mortgage payment is. They do it because they have to have the latest and greatest. This is why the used market on everything is doing good because the level headed consumer will be okay with something used to save some money.

I agree with the ones that said corporate greed is the culprit, because the ones at the top of the company won’t take a small hit in order to keep prices down, they still want 100% of what then can get and don’t care if it hurts anyone below them. Look at manufacturing, they can have something made for say $2 so they make a 60% profit. They could have the same thing made in there backyard so to speak and it cost $3.50 and make a 40% profit and create good paying jobs and help the local economy but the 15% is more important then seeing the local economy do good. Then when the housing market crashes or sales decline they want to blame everyone but themselves.

Ok long winded rant over

 

[jda]

There are more things working in the hobby than just supply, demand and inflation. A single company has purchased many of the manufacturers and some retail sites - they need to get a cut too. They always offer a press release about delivering a diversified portfolio and bringing things to more people, but they always get more expensive - new CEO alone needs 7 cents on the dollar, right?. This is capitalism. There is no reason to complain about it. Either pay it or support the independently owned reefing companies - both living with it and paying the price and also taking your money elsewhere is capitalism.

This is all REAL capitalism, not the one that people think happens when they love 'merica when it works for them and it is unfair/sucks when it doesn't - an entire economic system contains the good and the bad. Educate yourself and let your money talk.

 

[Opus]

Something doesn’t quite add up. Plus rates on a new car vs a used car have never been equivalent.

A 40k new car at 2% over 5 years is $700/month. It sure where you get $410 unless you put money down but once you put money down you may as well say it cost $1/month since you out $39k down.

A used 33k car at 10% (pretty high unless your credit is absolute crap) over 5 years is also $700/month

So … what else in your comparison isn’t apples to apples.

Guess I've been lucky. My credit union has been offering the exact same rate on used and new cars for years. I always go the used route.

 

[d2mini]

I don't care about prices, but If starting in 2009 makes you a curmudgeon, what does having started in 1993 make me? :)

OLD. :face-with-tears-of-joy:

 

[slipknot23]

Hanna Alkalinity Reagent at saltwateraquarium

 

[paintman]

All that free money everyone got. Now it has come home to roost

smartest post so far. we should also consider the policies we have allowed to be implemented.

 

[workhz]

Not more than 3 years ago I remember Hanna Alkalinity Reagent being $9.00. It's now $15.00. Is it just me or are companies price gouging to the point of it being unsustainable?

I was curious so used the waybackmachine and looked up Hannah reagent prices at saltwateraquarium (now I couldn't really track all the model numbers). I'm not sure what the difference is between the HI755-26, HI755-11 and HI772-26 but anyway.

Nov 2015 (HI755-26) was $12
Mar 2016 (didn't note which one) was $10
June 2017 (HI755-26) was $7
Sep 2020 (didn't note which one) was $9
Apr 2021 (HI755-26) was $9
Sep 2021 (HI755-11) was $12
May 2023 (HI755-11 and -26 and 772-26) was $13

I guess pick your poison on what timeframe you want to compare. A $1 jump from 21-23 doesn't seem bad. A close to 50% jump from 2020 till now isn't great. A $5 drop from 2015 to 2017 is odd, I doubt anyone here was writing posts about how awful the price drops were and were sending Hannah and extra $5 ;)

 

[Ryans Reef]

I was curious so used the waybackmachine and looked up Hannah reagent prices at saltwateraquarium (now I couldn't really track all the model numbers). I'm not sure what the difference is between the HI755-26, HI755-11 and HI772-26 but anyway.

Nov 2015 (HI755-26) was $12
Mar 2016 (didn't note which one) was $10
June 2017 (HI755-26) was $7
Sep 2020 (didn't note which one) was $9
Apr 2021 (HI755-26) was $9
Sep 2021 (HI755-11) was $12
May 2023 (HI755-11 and -26 and 772-26) was $13

I guess pick your poison on what timeframe you want to compare. A $1 jump from 21-23 doesn't seem bad. A close to 50% jump from 2020 till now isn't great. A $5 drop from 2015 to 2017 is odd, I doubt anyone here was writing posts about how awful the price drops were and were sending Hannah and extra $5 ;)

For sure. It certainly does depend on the time frame. The first cellphone was released in 1983 and cost $3995.

Hanna Alkalinity reagent is just a good example seeing how much it's gone up in 3 years. The point I'm making is that nearly everything has gone up more than Covid-19 and inflation can excuse in the last 3 years, especially in this hobby. Covid 19 actually brought more people into the hobby. It's true that manufacturing and shipping problems were the reason many prices had to rise. (Not to mention our government printing money and giving it away :upside-down-face:.) But those manufacturing and shipping problems no longer exists in the same way and yet prices haven't gone down and most certainly will continue to go up.

I know I probably sound like a cheapskate... But honestly, more and more I can't help but say to myself "oh c'mon man...." when I go to put in a new order.