(Topic ID: 318667)

Impacts of the current recession on pinball sales

By seenev

1 year ago


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  • 698 posts
  • 157 Pinsiders participating
  • Latest reply 3 months ago by CrazyLevi
  • Topic is favorited by 15 Pinsiders

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    Topic poll

    “Will a looming recession impact your NIB pinball purchases?”

    • Yes. I'm canceling or holding off on orders I would have made. 121 votes
      34%
    • No. Keep them coming! 117 votes
      33%
    • I couldn't afford the games before the recession. 121 votes
      34%

    (359 votes)

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    There are 698 posts in this topic. You are on page 11 of 14.
    #501 1 year ago

    Man I need some time off of work. When is this recession going to hit hard? It would be nice before my wife does the taxes. I would like to put some more in my Roth. I don’t plan on buying any pinball machines till end of the year. Might unload if they are half price.

    #502 1 year ago

    Step away for one day and the thread explodes!!! I wonder what happened???
    Oh..
    I see…
    MtnFrost is no longer inactive and he’s posting again

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    1 week later
    #503 1 year ago
    Quoted from MtnFrost:

    How about a tiny adjustment from a sector that got bloated during COVID that amounts to a tiny fraction of America's workforce?

    This. 1000% this. Certain sectors struggle or thrive in every economy.

    5 months later
    #504 8 months ago

    Happy 1 year anniversary to the "looming recession" thread!

    As the recession continues to loom, is the dark cloud looming over all our heads continuing to loom over your looming NIB pinball purchases?

    #505 8 months ago
    Quoted from chuckwurt:

    This. 1000% this. Certain sectors struggle or thrive in every economy.

    Oh god.... please dont encourage this dude to reactivate his acct!!!!

    #506 8 months ago
    Quoted from CrazyLevi:

    I'm praying for a recession on Pinside recession threads but that seems to be pretty unrealistic.
    I don't think I've ever seen this many recession posts on online pinball forums....
    So what gives? Why are recession threads so popular these days?

    ...after five months of forum silence:

    Quoted from CrazyLevi:

    Happy 1 year anniversary to the "looming recession" thread!
    As the recession continues to loom, is the dark cloud looming over all our heads continuing to loom over your looming NIB pinball purchases?

    I can't make this shit up.

    #507 8 months ago
    Quoted from CrazyLevi:

    Happy 1 year anniversary to the "looming recession" thread!

    Belated. You are a full 10 days late with the roses. I tried that with my ex-wife once... it didn't end well.

    3 months later
    #508 5 months ago

    Economic Growth Looming!:

    https://www.bbc.com/news/business-67229919

    The US economy grew faster than expected in the third quarter of the year, helped by a tight jobs market and consumer spending.

    The economy expanded at an annual rate of 4.9% in the July to September period, according to the government's first estimate.

    It marked the biggest rise seen since the last three months of 2021.

    Consumers spent a lot despite the Federal Reserve trying to clamp down on spending with higher interest rates.

    Analysts expected that the economy would grow by 4.5% in the third quarter of this year.

    But a strong jobs market meant that consumers were able to ask for bigger pay packets and keep spending on concerts, movies or holidays over the summer.

    Consumer spending, which accounts for more than two-thirds of economic activity in the US, was the main driver behind the rise.

    The latest figure is a big spike from the 2.1% growth seen in the three months to July.

    In a statement, the US Bureau of Economic Analysis said the increase reflects "accelerations in consumer spending, private inventory investment, and federal government spending" among other factors.

    #509 5 months ago

    Analysts predict auto loan delinquencies will keep rising into 2024. David Zalubowski/AP

    A record number of subprime borrowers are behind on auto loan payments by more than 60 days.
    The rate hit 6.11% in September, per figures from Fitch Ratings reported by Bloomberg.
    Vehicle repossession rates are also on the rise, leaving many without transportation.

    A record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg.

    The rate hit 6.11% in September – the highest since records began in 1994, and was up from the 5.93% recorded at the start of the year.

    Analysts predict that auto loan delinquencies will continue to rise into 2024 and peak at about 10% before they start to fall, per CNN.

    In the second quarter of this financial year, credit card debt surpassed $1 trillion for the first time in the NY Fed survey's history.

    More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. As a result they usually have to pay considerably higher interest rates.

    Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.

    #510 5 months ago

    Taylor Swift alone giving economy the boost!
    Take that FED!

    #511 5 months ago
    Quoted from starfighter:

    Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.

    Hey as long as they don't come for our pinball machines we are in good shape!

    Thank God pinball machines aren't cars!

    #512 5 months ago
    Quoted from starfighter:

    Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.

    Must be a result of the booming economy.

    #513 5 months ago
    Quoted from poppapin:

    Must be a result of the booming economy.

    Ever notice how "booming" rhymes with "looming?"

    It really makes ya think!

    #514 5 months ago
    Quoted from starfighter:

    Analysts predict auto loan delinquencies will keep rising into 2024. David Zalubowski/AP
    A record number of subprime borrowers are behind on auto loan payments by more than 60 days.
    The rate hit 6.11% in September, per figures from Fitch Ratings reported by Bloomberg.
    Vehicle repossession rates are also on the rise, leaving many without transportation.
    A record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg.
    The rate hit 6.11% in September – the highest since records began in 1994, and was up from the 5.93% recorded at the start of the year.
    Analysts predict that auto loan delinquencies will continue to rise into 2024 and peak at about 10% before they start to fall, per CNN.
    In the second quarter of this financial year, credit card debt surpassed $1 trillion for the first time in the NY Fed survey's history.
    More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. As a result they usually have to pay considerably higher interest rates.
    Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.

    I was at a dealership a couple weeks ago and Cars were moving fast,a lot of People are opting for 7 and 8 year loans on these Cars .Thats just not smart IMO and finance Companies are saying You got nothing Your In sign here.On a silly side note Tow Companies and finance Companies are Hiring.Just Say NO and Buy a beater off Craigslist if thats what You can afford.

    #515 5 months ago
    Quoted from Jamesays:

    I was at a dealership a couple weeks ago and Cars were moving fast,a lot of People are opting for 7 and 8 year loans on these Cars .Thats just not smart IMO and finance Companies are saying You got nothing Your In sign here.On a silly side note Tow Companies and finance Companies are Hiring.Just Say NO and Buy a beater off Craigslist if thats what You can afford.

    Yep. The worry here is that the luxury consumer is starting to pull back And that will have a major impact downstream.

    #516 5 months ago

    Fools finance

    Cash on the glass applies to pins and vehicles. So they can forever be compared on forums.

    #517 5 months ago
    Quoted from starfighter:

    Yep. The worry here is that the luxury consumer is starting to pull back And that will have a major impact downstream.

    Yes,I want people to keep buying NIB so I can Buy used after they go down 20 % ish.I have bought all the NIB I care to.
    example Foo Fighters with tax 14,500 NIB
    today same Machine 10 or 12 k with a couple hundred plays

    #518 5 months ago
    Quoted from Jamesays:

    Yes,I want people to keep buying NIB so I can Buy used after they go down 20 % ish.I have bought all the NIB I care to.
    example Foo Fighters with tax 14,500 NIB
    today same Machine 10 or 12 k with a couple hundred plays

    Yeah but what about the 5 months of fun you've had on that game since you bought it?

    Can't put a price on that!!! (well I guess you can...$3-4k?)

    #519 5 months ago
    Quoted from centerflank:

    Fools finance
    Cash on the glass applies to pins and vehicles. So they can forever be compared on forums.

    They wouldnt finance Me when I needed it So now they will but I pay cash .F them

    #520 5 months ago
    Quoted from Jamesays:I was at a dealership a couple weeks ago and Cars were moving fast,a lot of People are opting for 7 and 8 year loans on these Cars .Thats just not smart IMO and finance Companies are saying You got nothing Your In sign here.On a silly side note Tow Companies and finance Companies are Hiring.Just Say NO and Buy a beater off Craigslist if thats what You can afford.

    Stern offers financing for their All Access Exlusive pinball machine allotment. You could get that Bond 60th for only $28,943.25 when financed over 4 years... at 19.5% interest.

    pasted_image (resized).pngpasted_image (resized).png
    #521 5 months ago
    Quoted from SantaEatsCheese:

    Stern offers financing for their All Access Exlusive pinball machine allotment. You could get that Bond 60th for only $28,943.25 when financed over 4 years... at 19.5% interest.[quoted image]

    Imagine the lineup You could rent with that budget

    #522 5 months ago
    Quoted from Jamesays:

    Imagine the lineup You could rent with that budget

    Well... if you picked up one a year local and slightly used you could easily get a Star Wars Pro, Godzilla Pro, Deadpool Pro, Jurassic Park Pro, and Whirlwind with that budget and have one hell of a diverse and fun lineup.

    #523 5 months ago
    Quoted from SantaEatsCheese:

    Stern offers financing for their All Access Exlusive pinball machine allotment. You could get that Bond 60th for only $28,943.25 when financed over 4 years... at 19.5% interest.[quoted image]

    I’m going to check Stern’s website to see if they have any open Pinball Repo jobs.

    #525 5 months ago
    Quoted from CrazyLevi:

    FUCKIN' FINANCE IT!

    Wow forgot all aboot that one.

    #526 5 months ago
    Quoted from CrazyLevi:

    FUCKIN' FINANCE IT!

    And when you die... they can bury you in it!!!

    Although knowing the pinball fan base, most of us will need Widebodies.

    #527 5 months ago
    Quoted from Jamesays:

    I was at a dealership a couple weeks ago and Cars were moving fast,a lot of People are opting for 7 and 8 year loans on these Cars .Thats just not smart IMO and finance Companies are saying You got nothing Your In sign here.On a silly side note Tow Companies and finance Companies are Hiring.Just Say NO and Buy a beater off Craigslist if thats what You can afford.

    Reminds me of people getting their $1000 stimulus checks and using it to finance a new $50,000 4Runner despite making less than 40k a year. I'm not Warren Buffet, but the level of financial illiteracy in the US is alarming, but so is the ease of which you can live way beyond your means.

    #528 5 months ago

    Did we every officially have a recession? Inflation been nuts, but not sure about the recession thing.

    #529 5 months ago
    Quoted from CrazyLevi:

    and federal government spending"

    Haha

    #530 5 months ago

    If you are financing a pinball, you got issues. Inflation has hit hard, so I can’t justify buying new games…. Not hard to find sterns on location anyways. Find a lot more enjoyment out of the older ones that need some love.

    #531 5 months ago
    Quoted from RyanStl:

    Did we every officially have a recession? Inflation been nuts, but not sure about the recession thing.

    Depends what you mean by official. I guess that would be “no” since they changed the definition countless times. If you go by yesteryears definition absolutely.

    #532 5 months ago
    Quoted from Jamesays:

    Imagine the lineup You could rent with that budget

    What’s that saying?

    If it flies, floats or flips, it’s cheaper to rent?

    #533 5 months ago
    Quoted from RyanStl:

    Did we every officially have a recession? Inflation been nuts, but not sure about the recession thing.

    Quoted from EJS:

    Depends what you mean by official. I guess that would be “no” since they changed the definition countless times. If you go by yesteryears definition absolutely.

    No, no recession -especially- if we're using the traditional "two quarters of GDP decline". We've had growth every quarter since Covid. This last quarter was especially strong. There are always pockets of pain (like inflation), but a recession is literally a shrinking of the economy. Or, as some economists like to use now, some other fuzzy metric that's not measurable. I don't find measuring measurable metrics by feel to be super helpful.

    #534 5 months ago

    That's what I thought. Besides interest being up and inflation people that want to work are. I have 40 plus open positions I can't fill. I've also been getting a pay increase last few years with going several without. People paying stupid prices for pins, boats, collectables, other hobby stuff. Seems like people are doing pretty good.

    #535 5 months ago
    pasted_image (resized).pngpasted_image (resized).png
    1 week later
    #536 4 months ago
    Quoted from CrazyLevi:

    Economic Growth Looming!:
    https://www.bbc.com/news/business-67229919
    The US economy grew faster than expected in the third quarter of the year, helped by a tight jobs market and consumer spending.
    The economy expanded at an annual rate of 4.9% in the July to September period, according to the government's first estimate.
    It marked the biggest rise seen since the last three months of 2021.
    Consumers spent a lot despite the Federal Reserve trying to clamp down on spending with higher interest rates.
    Analysts expected that the economy would grow by 4.5% in the third quarter of this year.
    But a strong jobs market meant that consumers were able to ask for bigger pay packets and keep spending on concerts, movies or holidays over the summer.
    Consumer spending, which accounts for more than two-thirds of economic activity in the US, was the main driver behind the rise.
    The latest figure is a big spike from the 2.1% growth seen in the three months to July.
    In a statement, the US Bureau of Economic Analysis said the increase reflects "accelerations in consumer spending, private inventory investment, and federal government spending" among other factors.

    Just following up on Levi’s great economic info: Jobs numbers just came in below expectations and (while we all weren’t looking) the August/September jobs numbers were revised downward by 101k.

    #537 4 months ago
    Quoted from Gribbs:

    Just following up on Levi’s great economic info: Jobs numbers just came in below expectations and (while we all weren’t looking) the August/September jobs numbers were revised downward by 101k.

    It’s not looking good.

    #538 4 months ago
    Quoted from Multiballmaniac1:

    It’s not looking good.

    If we could ONLY determine why all of this bad stuff is happening. I just wish we could point to some particular event that started all of this… It is so RANDOM!

    #539 4 months ago
    Quoted from Gribbs:

    If we could ONLY determine why all of this bad stuff is happening. I just wish we could point to some particular event that started all of this… It is so RANDOM!

    Right? It’s like history NEVER repeats itself.

    #540 4 months ago
    Quoted from Gribbs:

    If we could ONLY determine why all of this bad stuff is happening. I just wish we could point to some particular event that started all of this… It is so RANDOM!

    I'll right... I go ahead and address the elephant in the room. All of this bad stuff has been happening corresponds EXACTLY with the rise of Ice Spice as an "artist". No Ice Spice, no issues.

    #541 4 months ago
    Quoted from Multiballmaniac1:

    It’s not looking good.

    That’s a bit of hyperbole. The jobs report isn’t what was expected but a lower jobs report is actually good right now. The Feds are hoping to drop inflation which becomes nearly impossible with a hot jobs market mixed with increasing wages. The sky isn’t falling…yet.

    #542 4 months ago

    Also, a bit of an anecdote. Didn’t get a bonus at my job this year so I cancelled my stranger things order. I get the sense many others are feeling a bit of a squeeze right now resulting in less pinball buyers.

    #543 4 months ago

    We are also coming into the crucial “free meat holiday season.”

    If you’ll remember, a year ago, we were gripped with looming recession fever as a result of a pinball distributor sending out smoked sausage - UNSOLICITED! - to long time customers. As the OP pointed out, free smoked processed meat from pinball sellers is one of the leading indicators of complete economic collapse.

    So keep your eyes open and your mailboxes greased! Fingers crossed we don’t see a similar distribution of savory holiday composite high fat protein again, I don’t think my heart can take it!!! (In any number of ways)

    #544 4 months ago

    I will give Levi a break. Being young and green, he couldn’t possibly have known about the government’s ‘loudly show them good numbers then later quietly adjust them down’ trick.

    #545 4 months ago
    Quoted from Gribbs:

    Just following up on Levi’s great economic info: Jobs numbers just came in below expectations and (while we all weren’t looking) the August/September jobs numbers were revised downward by 101k.

    What kind of jobs are we talking about? Fast food? Low level jobs?

    In tech and other comparable industries we’re seeing layoffs and hiring freezes.

    #546 4 months ago
    Quoted from Gribbs:

    I will give Levi a break. Being young and green, he couldn’t possibly have known about the government’s ‘loudly show them good numbers then later quietly adjust them down’ trick.

    My distributor has every game in stock. Still has Bond LE, Venom LE and more. It’s slowing down.

    #547 4 months ago

    I tend to not care about those reports as the DC area is usually very insulated. But last week I found out that three people I knew were out of work. When I feel it right next to me its real and has impact. Everyone I know is tightening down.

    #548 4 months ago

    We are in an official pinball recession.

    It’s difficult to have an economic recession when we have full employment due to previous corp tax cuts and on shoring of jobs back to the US.

    Of course the government has flooded the economy with trillions of additional $$$ that the FED had to print up and thus we end up with massive inflation.

    Gas prices aren’t going down.

    And it’s just the RATE of inflation that is dropping from huge price increases.

    Tell the folk that need to finance a house, buy a car, fill it up with gas, go to the grocery store that the economy is just wonderful!

    Yep, the pain is coming. The math has to add up eventually. 2+2 is 4 in the real world

    #549 4 months ago
    Quoted from EJS:

    Depends what you mean by official. I guess that would be “no” since they changed the definition countless times. If you go by yesteryears definition absolutely.

    There has been no change to the definition of a recession as its always been squishy. Generally a recession is agreed upon (by guidance from the National Bureau of Economic Research) when there are two consecutive quarters of GDP decline but thats not the only variable used...By that simple definition we were in a recession in 2019 for a short period and in 2022 for an even shorter period. But neither would be really considered recessions in a traditional sense.

    #550 4 months ago
    Quoted from iceman44:

    We are in an official pinball recession.
    It’s difficult to have an economic recession when we have full employment due to previous corp tax cuts and on shoring of jobs back to the US.
    Of course the government has flooded the economy with trillions of additional $$$ that the FED had to print up and thus we end up with massive inflation.
    Gas prices aren’t going down.
    And it’s just the RATE of inflation that is dropping from huge price increases.
    Tell the folk that need to finance a house, buy a car, fill it up with gas, go to the grocery store that the economy is just wonderful!
    Yep, the pain is coming. The math has to add up eventually. 2+2 is 4 in the real world

    -Offshoring ACCELERATED during the time of the corp tax cuts [fewer manufacturing (and coal for that matter) jobs in the US in 2020 than in 2016]
    -Domestic energy production is currently at record highs and I just filled up for $2.95/gallon. But of course 5% GDP growth is creating higher demand negating the downward supply pressure to where it would normally be.
    -Global supply chains that fell apart in 2020 are finally trending back to normal leading to a decline in inflationary growth for >a year.

    That said, I agree. The sugar high from years of Covid stimulus is going to crash eventually. Savings rates are finally trending down which indicates that consumers have depleted that cushion..sentiment and consumer spending will likely follow. The fed will continue to try and crush the economy with rate hikes (or a pause at the current high rate) until they induce a true recession.

    I'm just waiting to buy my MET Pre for less than the $6500 I sold it for a while ago....SOON!

    There are 698 posts in this topic. You are on page 11 of 14.

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