Quote:
Originally Posted by CharleyBrown
I can't see the stimulus checks being the cause of the current prices in the hobby.
Someone making $75k and getting a $1400 stimulus check is more than likely not paying $25k for a PSA 4 '52 Topps Jackie, and I'd be shocked if they are looking to spend $400 on a PSA '52 Topps Joe Black.
The wealthiest have seen their wealth grow substantially in the past year. This is purely the result of people looking to park their money into other asset classes.
I suspect we will see a small burst in the bubble as COVID restrictions ease up, but we don't know when that will be. When it does happen, the drop in prices certainly won't be $GME-esque, that's for sure.
|
This started with basketball cards. Someone making 150k who was already spending money on the hobby suddenly gets 2400, more if he has kids, and can't spend money on vacations, movies, dining, etc. He puts that money into the right players, such as Jordan and LeBron, and now ~8 months later he easily has enough to buy even a low grade 1952 T Mantle before the recent run up after seeing ~10x gains.
There are lots of people whose income hasn't been effected at all and some who have seen a rise (medical related fields for instance). With another 2800+ coming, what are they going to spend it on? I don't see any bursting in the near future.