Inflation did a number on many people last year. Prices soared, wages remained stagnant, and lots of us had to make serious choices when it came to what to spend money on.
Thankfully, 2023 might be a year where prices on a lot of things start to come down. So if you’re in the market for some big ticket items, these are the ones to watch for this year:
Real Estate: The urgency to get in a house, no matter the cost has cooled since the COVID pandemic hit and home prices have already started to fall on a month-to-month basis, according to the S&P/Case-Shiller index
Rent: The Zillow observed-rent index has already dropped in September, October and November.
Cars: Experts predict car prices falling in the second half of the year now that the semiconductor shortage is under control.
Appliances: Just like cars, stabilizing the semiconductor shortage will stabilize appliance prices.
Electronics: With the microchip shortage ending and less people working from home, these prices won’t have the sticker shock they used to.
Hotel rooms: Hotels are recovering from the surge in post-pandemic vacationers, which is helping prices fall back in line.
Source: Yahoo News