Buying Advice Just buy the darn tractor

[Deleted member 371759]

In Economics we call this FOMO - Fear of Missing out.

FOMO is a classic inflation response that actually drives inflation higher. It's actually irrational fear.

Interest rates hikes were paused temporarily yesterday, but it was noted rates will need to be raised later in the year. Again, this creates FOMO and it will actually drive up prices in the short term.

If history proves correct, prices will have to go lower in about 12-18 months as all the demand will be brought forward. The fed should just let interest rates be set by the market. It will take the overshooting of poor timing out of the equation.

FOMO generally refers to buying something at the peak because you are afraid of missing out. Some people are not looking at a single thing like Bitcoin or some stock. Some people are looking at a much larger picture. This is clown world and I dont think clown world has a peak.

 

[drumminj]

FOMO generally refers to buying something at the peak because you are afraid of missing out. Some people are not looking at a single thing like Bitcoin or some stock. Some people are looking at a much larger picture. This is clown world and I dont think clown world has a peak.

Some people just want a place to live so they can enjoy life. Having to wait out a 10+ year cycle due to central banks is frustrating. One may be right, but the market will stay irrational longer than you expect, and even if you're "right", how much potential have you missed out on by waiting?

House prices may come down. Tractor prices may come down. But they also may not in a time-frame that makes sense for each of us. Personally I'm glad I bought my tractor when I did - I've gotten a ton of use and enjoyment out of it. I wish we'd bought/built our house earlier, but it was the right time in my life to do what I'm doing. And I'll get use and enjoyment out of it too, even if the "value" goes down. Life's too short for me to wait any longer.

Agree central banks shouldn't be setting interest rates - let the free market set the price of money.

 

[Williy]

The way the prices keep going up on tractors IMHO don't
believe that they will be dropping any time soon! I haven't
checked the lumber but heard that the price is coming down

willy

 

[CloverKnollFarms]

I can see used prices coming down, but MSRP? Let me know when that happens

 

[Yander]

What’s “retirement”?

For me, retirement will be a big difference in the ratio of sitting at a desk to sitting on a

I'll probably stop working when I can't drag myself onto at least a SCUT.

 

[steve tym]

Electricity is coming down in NH. We have also had a buying frenzy in the real estate market. Like FOMO. For the life of me I can't figure out why people are so desperate to buy. Are they afraid there will be no house's left tomorrow?

 

[Deleted member 371759]

Electricity is coming down in NH. We have also had a buying frenzy in the real estate market. Like FOMO. For the life of me I can't figure out why people are so desperate to buy. Are they afraid there will be no house's left tomorrow?

I think the FOMO in the housing marked is quickly subsiding. With rates more than doubling in the last year or so, banks tightening lending and inflation. In 2018 I told my wife we either move now or be stuck for what could be decades. She thought I was crazy but thankfully she listened. We would be priced out of the market due to inflation and current mortgage rates. I felt the same way with our tractor. Glad we bought when we did. For one you never want to buy during inflation/recession. Its well known that cars built during the last 2006/09 recession are junk due to shrinkflation. With the price of commodities you are either going to pay more or the manufacturer is going to find ways of cutting corners.

The way the prices keep going up on tractors IMHO don't
believe that they will be dropping any time soon! I haven't
checked the lumber but heard that the price is coming down

willy

Lumber is coming down but its still not close to 2000-2018 prices. Lumber - 2023 Data - 1978-2022 Historical - 2024 Forecast - Price - Quote - Chart With new housing start demand falling, supply and demand is working, energy cost and general inflation is what is keeping the prices elevated.

They tell you what they are going to do. Its part of their ethos. They tell you, you mention it, then you are called a conspiracy theorist. 15 minute cities, Agenda 2030, Own nothing and be happy.

 

[Ricn]

I actually had a young man, in his 30's tell me the world will be a cleaner place when my generation is dead. A college grad working at Starbucks who is doing nothing with his life.

As for tractors; I have been looking at getting another tractor with a grapple out front and looking at the Kubota 5200 model and for parking out more of the place leaving the big fir trees. My Wife of course is not in agreement saying, I need another one like a hole in my head.

 

[Mike_in_Missouri]

To all the people, waiting around, thinking prices will come down
Or waiting for some bargain deal
Or thinking the next year’s model may be better.
My advice
If you are wanting, or needing a tractor
And can afford it
Just:
Buy the darn tractor
As I have hit my late 40s,
(I know, just a kid to a lot of people on here)
I have a new sense of our fragility and mortality.
Within the last month, my wife has lost
2 friends to unexpected illnesses
A brother to a heart attack
Another friend diagnosed with stage 4 cancer
We know 2 people, who were just diagnosed with ALS
All these people are/were under 50

I have disabling health issues, but can still lead a mostly “normal” life, just not every day.
But I am lucky, compared to others
Life is short, enjoy it while you are here
Buy the darn tractor
I just bought my most recent one last week
A new Kubota L5460,
it will be the fanciest
most comfortable,
tractor I’ve ever had,
But life is short and I plan to enjoy it

BINGO! Just turned 50, retired from the military a few years ago following a disabling reaction to a dadgummed flu shot. Former competitive runner, now can barely walk and, like you, have good days and bad days. Hard to build a financial case for tractor ownership but in the long term it'll pay off and certainly will make life easier getting farm tasks done. Made the decision last week to go ahead and buy. There's something to be said for independence (no more waiting for someone else to do my hay) and building capabilities.

 

[Deleted member 371759]

BINGO! Just turned 50, retired from the military a few years ago following a disabling reaction to a dadgummed flu shot. Former competitive runner, now can barely walk and, like you, have good days and bad days. Hard to build a financial case for tractor ownership but in the long term it'll pay off and certainly will make life easier getting farm tasks done. Made the decision last week to go ahead and buy. There's something to be said for independence (no more waiting for someone else to do my hay) and building capabilities.

I'm your age and last year I did almost 2 acres of fencing by myself, Pounding tposts by hand in Rockansas dirt, 20 or so 3 1/2 foot deep corner posts with a post hole digger. There were days I couldnt dig more than one hole. It took me 3 months to do. I hurt my arm, and my heel. It took over 6 months to recover. I will never do that again. Bought a tractor shortly there after and I will rent a t post driver for the next few acres we are doing this fall. Corner post will be done with my buddies skid steer and hydraulic auger. Getting too old and cant work like Im 25 anymore.