We knew it was coming...

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 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.

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.

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

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.

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 ??

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.

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

JimK-NY wrote:

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

You're misinterpreting the data provided in your own links and one of them is from the Fed. The Fed is controlled by those who will lead you to believe inflation is 9% when prices have rose 20-30% across the board for almost everything. The same folks who call energy prices dropping 3% after they rose @ 50% a win.