Also, demand for cars can’t drop because Americans don’t have basic freedoms like access to quality public transit, walkable cities, or infrastructure to protect bikes from car drivers who watch movies on their phones while they drive
People with cars a couple years old were being asked to trade for a new one just to bolster used inventory. Don’t understand the economics but I know two people who traded their 3ish year old cars for brand new ones (and a little cash on top) at the behest of the dealer during that time.
I don’t know the economics either but I bought a used truck in Dec 20 and after 6months or a year the dealer started calling me every month or so with an offer to buy it back at more than I bought it for. It was really crazy.
My parents bought a their car when their lease was up then sold it back for a profit around the same time. Just to add to the anecdotes.
You mean when carvana started overpaying for used cars to build inventory to test their product and inadvertently crashed the used car market (from a buyers perspective)?
And those systems use economists too. There are whole economic departments in universities in socialist economies studying economics. The science does not change just because the system you use to allocate goods changes.
Unfortunately places like goodwill will jack up prices. eBay prices tend to go up as well. Other places not as much since they don’t usually do market research.
That is good. Unfortunately many Americans “just don’t want to mess with it” themselves. They could easily give it away directly or recycle it, but instead give stuff to phony charities like goodwill.
Yes, but… There are consequences. Used goods will also have price increase if new ones are more expensive.
Buying 2nd hand reduces demand for new goods, which reduces prices in the broad sense.
That’s not what happened when demand for used cars skyrocketed a few years ago
Demand for new vehicles didn’t drop, supply for new vehicles stopped.
Also, demand for cars can’t drop because Americans don’t have basic freedoms like access to quality public transit, walkable cities, or infrastructure to protect bikes from car drivers who watch movies on their phones while they drive
Yup, the US has managed to turn cars from a luxury item to what’s essentially a necessary good.
Like there aren’t cars outside of the US.
You know full goddamn well that’s not what I mean. If you’re going to argue in pithy whataboutisms then take that shit back to Reddit.
Check your attitude. And no, I have no idea what your point is. Lots of non-US places are auto dependent and cannot be served by transit.
There are over 1.4 billion cars in the world, and less than 1/5 are in the US. Most vehicle sales are outside of the US.
Do you even travel??
Your reading comprehension is disturbingly poor.
People with cars a couple years old were being asked to trade for a new one just to bolster used inventory. Don’t understand the economics but I know two people who traded their 3ish year old cars for brand new ones (and a little cash on top) at the behest of the dealer during that time.
I don’t know the economics either but I bought a used truck in Dec 20 and after 6months or a year the dealer started calling me every month or so with an offer to buy it back at more than I bought it for. It was really crazy.
My parents bought a their car when their lease was up then sold it back for a profit around the same time. Just to add to the anecdotes.
You mean when carvana started overpaying for used cars to build inventory to test their product and inadvertently crashed the used car market (from a buyers perspective)?
How complicated economics is!
But increases demand for used goods means the price increases for them, which means the deal isn’t as good so buying new becomes more interesting…
I think we just invented economics
And we just realized how silly it is!
Only those that are uneducated in the miserable science think it is silly.
There’s alternatives to the capitalist system that leads to the situation we’re in right now.
And those systems use economists too. There are whole economic departments in universities in socialist economies studying economics. The science does not change just because the system you use to allocate goods changes.
Yeah, I think a lot of people don’t realize this. I say as I wait for my econ 101 class to start.
And eventually , all of the used goods will wear out necessitating new goods.
Entropies a bitch
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Thrift stores are expensive now anyway. Resale shops are worse. Garage sale season is coming up.
They already did, but for different reason.
Second-Hand clothing was trendy not too long ago and the prices went up to the point where the used wares almost cost more than new ones.
Just keep in mind that everything is a business and will exploit it’s current popuarity to the fullest.
Depending on the type of product there may be several times the necessary amount already laying around.
Unfortunately places like goodwill will jack up prices. eBay prices tend to go up as well. Other places not as much since they don’t usually do market research.
In my country, a lot/most of the second hand selling is done by normal people
That is good. Unfortunately many Americans “just don’t want to mess with it” themselves. They could easily give it away directly or recycle it, but instead give stuff to phony charities like goodwill.
D:
that’s just capitalism