The Pro's Closet at it again

[vtsnowplow]

Originally Posted by dave thompson

The used bike market has gotten pretty soft of late.

any reason why? feel like during covid no one could get bikes, now there all caught up? Recession? Stock market is on a tear so not sure why.

[marinoni62]

Looks like they had some layoffs recently.

https://www.bicycleretailer.com/indu...aff-reductions

[dave thompson]

Originally Posted by vtsnowplow

any reason why? feel like during covid no one could get bikes, now there all caught up? Recession? Stock market is on a tear so not sure why.

Too many bikes have now flooded the market coupled with waning interest.

[Wakatel_Luum]

E-bikes taking a big chunk of the market too.

[oldguy00]

Originally Posted by dave thompson

Too many bikes have now flooded the market coupled with waning interest.

And perhaps recession isn't helping?

[CNY rider]

Originally Posted by oldguy00

And perhaps recession isn't helping?

Is Canada experiencing a recession?
The US isn’t.

[oldguy00]

Originally Posted by CNY rider

Is Canada experiencing a recession?
The US isn’t.

It might not be -official-, but interest rates have obviously been going up along with the cost of living.

[Black Dog]

Originally Posted by CNY rider

Is Canada experiencing a recession?
The US isn’t.

We are not.

[oldguy00]

Originally Posted by Black Dog

We are not.

True, recession was not the right word to use.

But seems like people are struggling with debt more now.

[Black Dog]

Originally Posted by oldguy00

True, recession was not the right word to use.

But seems like people are struggling with debt more now.

Absolutely. Cost of living is way up. Wages have not followed as quickly. Interest rates up and wealth is being transferred at an astonishing rate. The mania that the Bank of Canada has about fighting inflation is painful. Employment levels are high and workers are finally able to demand better wages and working conditions and they want higher unemployment. A decade of Free money and zero regulations in housing have created a perfect storm of unaffordable and vastly overpriced housing with limited supply. Our kids are going to suffer until the bubble bursts. Well at least the banks and realtors have done well.

[oldpotatoe]

Originally Posted by vtsnowplow

any reason why? feel like during covid no one could get bikes, now they are all caught up? Recession? Stock market is on a tear so not sure why.

Lots of bike and other stuff, makers thought with COVID, the resulting 'bike boom' would last forever. So, ramped up production and now, with buying back to 'normal', ton of new and used stuff inventory.

Lot of people working, economy chugging along...but bike buying frenzy, now that people are back at work, has receded back to 'normal'..

So, TPC has a lot of inventory so their buying has slowed as well, along with lower prices offered...

And perhaps recession isn't helping?

Put three economists in a room and ask about 'recession;' and get 5 or 6 answers/opinions. Inflation was high, now it's 'about' 3%. COVID disrupted everything and remember, we are only 'about' 18 months where it's now 'endemic' rather than 'pandemic'.

Throw in the divisive political climate, upcoming election season(oh boy, can't wait), the stuff we all get bombarded with all day...not surprised people are nervous, angry, grumpy.

BUT, yes, bike stuff production ramped up, up..and then demand went back to 'normal'..lots of supply, waning demand=lower prices...econ 101.

[oldguy00]

Originally Posted by Black Dog

Absolutely. Cost of living is way up. Wages have not followed as quickly. Interest rates up and wealth is being transferred at an astonishing rate. The mania that the Bank of Canada has about fighting inflation is painful. Employment levels are high and workers are finally able to demand better wages and working conditions and they want higher unemployment. A decade of Free money and zero regulations in housing have created a perfect storm of unaffordable and vastly overpriced housing with limited supply. Our kids are going to suffer until the bubble bursts. Well at least the banks and realtors have done well.

Exactly. Everything has gotten crazy expensive. Here in Nova Scotia, many places have seen housing prices literally double over the past 3 - 4 years, and rent prices are crazy. We have two teenagers who I assume will prob just live with us for a long time yet (which I am fine with!! ) as it will be impossible for them to afford their own place to live. Groceries are absurd, gas is way up again with our new carbon tax to save the environment (rigghhhht,,....), etc etc...

[spoonrobot]

Seasonally adjusted, the US entered the second quarter of Recession two weeks ago.

[vtsnowplow]

Originally Posted by oldguy00

It might not be -official-, but interest rates have obviously been going up along with the cost of living.

inflation is at 3%, stock market is closing in on all time highs, consumers have started to spend again (first 6 months of the year were a bloodbath) back to school is projected to be strong,

They have been talking about a recession for 3 years and it is barely happend. If anything it will be a technical recession, but will not be that bad. wages are still growing,

[vtsnowplow]

Originally Posted by oldguy00

Exactly. Everything has gotten crazy expensive. Here in Nova Scotia, many places have seen housing prices literally double over the past 3 - 4 years, and rent prices are crazy. We have two teenagers who I assume will prob just live with us for a long time yet (which I am fine with!! ) as it will be impossible for them to afford their own place to live. Groceries are absurd, gas is way up again with our new carbon tax to save the environment (rigghhhht,,....), etc etc...

Recession is only as bad as who you listen to.