Quote:
Originally Posted by rats60
Why is this bizarro? The hobby originally took off during the second worst economic crisis in our country's history after the great depression? We had double digit unemployment, double digit inflation and double digit interest rates yet there were enough people with money to buy baseball cards that everything rose dramatically in price.
Now we have the government sending everyone 3200.00 and people are locked in their homes with little to spend it on. Why wouldn't you expect some of it to go into cards when the government gives out free money to people who don't need it? After the stock market crash last year, why shouldn't people diversify into this hobby which has a 40 year history of solid growth?
I agree with your 4 points, but what we don't know is how many of these new investors will leave when we have the correction. That will determine if the drop will be minor or prices will correct back to close to where they were a year ago.
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While I agree with most of your post, I think it should be noted that the gov't giving people $600 or $1400 stimulus checks is definitely not driving the price of Jordan rookies to $700k or Kobe refractors to $500k, or even cards that are now selling in the 5 figure range.