Quote:
Originally Posted by lauriontj
What do you think is causing this down trend? Are the Covid people leaving the hobby, or do you think it has to do with the economy as a whole? My guess is maybe a little of both. Less people buying due to the economy, and less people buying in general. I’m also curious to see how the National does this year vs last year. I imagine less people, but who knows…
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1) The massive liquidity injection over the last couple of years - both at the personal level and with free money for businesses - has pretty much dried up. A lot of that money went to people that didn't need it to live, and they spent it on stuff like cards.
2) The pretty much fully reopened economy this year has drawn the attraction of a lot of the flipper/cryptobro types, and, importantly, their followers, so there's less profit/rent seeking people in the hobby versus the last 18 months.
3) Inflation has put lifestyle pressure on pretty much everyone, especially in concert with #1.
I kind of expected things to stall more than to drop quite this much, but it does feel like there's still plenty of activity in the hobby as a whole - just not quite as much liquidity right now. I'm still a buyer at these price levels but I'm also a degenerate collector so what do I know?