Don’t Waste Your Money: Furniture shortages and price hikes

Don't Waste Your Money

(WHTM) — With the holidays over, many people are looking to spruce up their homes for spring, and that often means some new furniture. But, watch out for high prices.

In 2021, it was all about furniture shortages. As Nick Daniels from Furniture Fair said last September, “We have some things coming from Asia where we are now waiting a year!”

Get daily news, weather, and breaking news alerts straight to your inbox! Sign up for the abc27 newsletters here

Then, in 2022, those shortages are finally starting to ease, but prices are up, sharply in some cases.

Ikea has just announced it is hiking prices an average of 9%. But, the Guardian, using prices from last year’s catalog, found Ikea’s Malm Desk is up 50%. Plus, it claims the popular Hemnes Bed is up 30%. Ikea tells Guardian it is simply passing along supplier price hikes, and says its furniture remains very affordable.

From the Doesn’t That Stink File — the soaring cost of moving into a new home. Home prices are up 20% in the past year. It will cost you 10% more for furniture for that new house, according to the government, and 9% more for appliances. But, wages only grew 3% in 2021, which may leave you saying doesn’t that sink.

It might be worth checking some used furniture stores where you may be able to find a used kitchen or bedroom set for much less, and it will be stock. As always, don’t waste your money.

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss