redhooker wrote:
Used market is still very brisk here in FL. Sky-high rent combined with unaffordable mortgage interest rates (a 200k motgage is up $400/month from January) is pushing a lot of people into full time lifestyles. Locally campgrounds have doubled monthly rent but still substantially cheaper than an apartment right now.
I bought my first house in 1982. My interest rate was just a bit over 13%, and it was THAT low because we were first-time buyers.
We've enjoyed historically low mortgage rates for almost ten years now. While they have gone up, I wouldn't generally describe them as "unaffordable" any more than they have been. In many markets, real estate sales are slowing, even here in the Bay Area. I think, for now, lower prices (in certain markets) will offset interest rates.
Demand for durable goods is still high, and demand for luxury items is still high including RVs. Many, if not all of the price increases we're seeing are tied to outside forces (most notably Russia v Ukraine) and the recovery from a worldwide pandemic that wrecked the supply chain.
Lots are full, manufacturers are talking about slowing production to more realistically meet demand, and the industry is taking a collective deep breath and looking closely at the last two years, trying to read the tea leaves for the coming two years.
I set a budget when I started looking, and for the last 18 months the TTs I want (well cared for used models, between 3-8 years old)have all been 32-35% more than my budget, and I'm finally starting to see them starting to fall within my range. By this Fall I should have a good selection and I hope to find what I want locally.
My local Lance dealer sent me a flyer for HUGE reductions over MSRP. lol Well, OK, I know it's hype but I haven't seen any dealers advertising discounts or sales before this.
It will soon be a buyers market.
