Comment by acdha

I’d also add that pandemic supply chain disruption meant that consumers were more accepting of limited choices initially or assumed prices would recover.

We saw that especially badly with the auto industry, which used the chip shortage to push people to buy more expensive models. Lots of people figured they didn’t have a choice so they bought what the dealer had available, especially before interest rates made it easier to not think about the difference. In 2019, fewer buyers would’ve put up with that because they’d assume the model they wanted would be available soon.