Has the economy affected you and your tractors?

[Tred Boyota]

Is the Current Economic Meltdown comparable to The Great Depression?

I had to cut down a bit in some hobbies but not I don't take tractors as a hobby but more as a passion and a useful one at that.

What about u guys?

 

[DavidVT]

Avoiding long term debt.
My tractor is my youngest vehicle. The goal to park the now 5 year old tractor out of the weather is still just a goal for now.....

 

[smfcpacfp]

I am retired with a stable income and maximized my tax sheltered savings for decades, so no, it hasn't affected me directly. I think my wife and I, and others like us have a stabilizing effect on the economy. My wife and I travel a lot and although my investments have dropped somewhat in value, the cost of travel has dropped even more.

I am sorry to see what has happened to some of our young friends and the State of Michigan in general.

 

[Thomas]

Not as of yet..fingers cross..but see more and more up for sale each month.

 

[keegs]

Nearest thing to a tractor I have is an old walk behind Yardmaster that I bought at Lowes some time back and so the downturn hasn't done much to it or how much I use it.

We lost some time...Investments and savings take a while to cook. We've been saving and investing for thirty years and so if we want to fully recover, it'll take some more time to make up for the lost time.

I think the biggest impact of the financial meltdown for me has been in gaining a better understanding of how the financial system operates and the loss of what little trust and confidence I had in it.

 

[MossRoad]

Has the economy affected you and your tractors?

No. The tractor was paid for long ago and gas is still affordable.

 

[dave1949]

Interesting question.

My tractor-related projects are mostly optional, snow removal excepted. There are things I would like to do; convert my loader to quick attach, add remote hydraulics and get a grapple, that just don't seem worth giving up savings to do at this point. If I felt really flush, I would start over with a new or lightly used second tractor with a factory cab. If the DOW were back to 14,500 I would feel more optimistic. By the time that happens, I'll need a step stool to climb on the tractor

I did order a pto chipper and snowblower two weeks ago, but thought long and hard about that before parting with the cash. Those attachments earn their keep and hold their value decently well at least.

I would say overall, yes the economy has affected my tractor expenditures.
Dave.

 

[bp fick]

With the country being in a severe recession and the state mired in depression, the economy drives a different buying and selling mentality. The sale of high ticket items on the USED market has tanked. Selling late model stuff is very, very tough. The few buyers tend to be sharks with cash and look to steal what they can for far under value. New sales are driven solely by Zero interest rates which depress late model sales and used prices even further.

A few years ago, the selling of late model cars, trucks, boats, tractors, etc was much, much easier and far higher returns were realized. Now, making changes is much more difficult, making most people stand pat. Watch and wait.

 

[jinman]

In 2009, my wife and I sold her previous residence and land early in the year and I sold 11 acres of undeveloped land. Her place sold for a good price and I got a premium price for my land. We have been very lucky to not experience any difficulties, but the same things cannot be said for our kids and many friends. During this time, the only tractor implement I bought was a log-splitter, but that's all I needed and wanted. I did buy a used Kubota G1800 diesel lawn tractor just because I wanted it. The price was fair and I wanted a diesel lawn tractor just for the fun of it. I didn't need it, so it was money I didn't have to spend. I'd say that the economy has had minimum impact on my tractoring.

 

[2manyrocks]

I am retired with a stable income and maximized my tax sheltered savings for decades, so no, it hasn't affected me directly. I think my wife and I, and others like us have a stabilizing effect on the economy.

My equity investments got hammered like everyone else. I agree that those who are still bringing in money (by working or through their hard earned investments) and spending money are helping to provide real jobs and keep things going.

The speculators who were operating on borrowed $ are folding like cheap umbrellas in a strong wind in middle Tennessee.

I still use my tractor like always because I still need it for the same uses. It's been paid for a long time and has been very useful to have. I'm pleased with my tractor, and not so pleased with my other investments.