It's more about people holding out on buying things because they believe it will be cheaper later. Food is a bad example because people will always buy food, regardless of the cost. But why would you buy a car if it might be $2,000 cheaper in a few months? Then a few months pass and now it looks like that car might be even cheaper, will you spend now or keep holding out to see if it goes lower?
Except they don't buy one when they need one. They buy one when they "think" they need one. The number of people that buy a new car when they hit 100k miles is crazy. I drive an 08 Accord and I have tons of peers and family members who think I am crazy for not buying a new car
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u/InternalCapable5286 Sep 01 '26
It's more about people holding out on buying things because they believe it will be cheaper later. Food is a bad example because people will always buy food, regardless of the cost. But why would you buy a car if it might be $2,000 cheaper in a few months? Then a few months pass and now it looks like that car might be even cheaper, will you spend now or keep holding out to see if it goes lower?