>>>
>>> TIME
>>> TIME FOR TODAY'S EDITION OF BUSINESS BRIEF, A SEGMENT WHERE
WE TALK ABOUT TRENDING BUSINESS
NEWS IN COLORADO AND AROUND THE
COUNTRY AND WAYS TO HELP YOUR
WALLET.
WALLET.
WALLET. OUR BUSINESS ANALYST RYAN
FRAZIER JOINS US AGAIN THIS
MORNING.
MORNING.
MORNING. RYAN, GOOD MORNING.
>> Reporter: HEY, GARY, AND
GOOD MORNING, COLORADO.
I'M RYAN FRAZIER.
LET'S GET TO YOUR BUSINESS
BRIEF.
BRIEF.
BRIEF. I
BRIEF. I WANT YOU TO TAKE A LOOK AT
THIS CHART ON APPLE'S RECENT
TRENDING DATA AROUND HOW PEOPLE
ARE GETTING AROUND.
THIS REFLECTS DIRECTIONS FROM
APPLE MAPS.
APPLE MAPS. YOU CAN SEE A DIP IN WALKING,
WHICH IS IN ORANGE, AND DRIVING
WHICH IS IN RED AND TRANSIT
WHICH IS BUS OR LIGHT RAIL IN
PURPLE FROM MARCH THROUGH MAY.
INTERESTING THAT WALKING
REQUESTS ARE NOW UP OVER 75%
AND DRIVING IS UP 44%, WHILE
TRANSIT CONTINUES TO LAG DOWN
41%.
41%.
41%. I'M
41%. I'M SURE RTD IS ACUTELY AWARE
OF THIS BUT THIS DATA HAS ALL
TYPES OF IMPLICATIONS FOR NOT
ONLY BUSINESS OWNERS, BUT
RESIDENTS ALIKE AS IT SHOWS HOW
A GREAT MANY PEOPLE ARE GETTING
AROUND.
AROUND.
AROUND. I
AROUND. I WOULD LIKE TO THINK THAT
NEIGHBORHOOD BUSINESSES WILL
BENEFIT FROM THIS TREND.
RENTERS MAY BE FEELING SOME
SLIGHT RELIEF AS THE DENVER
BUSINESS JOURNAL REPORTS THAT
THE AVERAGE RENT IN THE METRO
AREA FELL YEAR OVER YEAR FOR
THE FIRST TIME IN MORE THAN A
DECADE.
DECADE.
DECADE. AVERAGE RENT NOW STANDS AT
$1506, DOWN $12 YEAR OVER YEAR,
ACCORDING TO A SURVEY PUBLISHED
BY THE APARTMENT ASSOCIATION OF
METRO DENVER.
METRO DENVER. DEMAND FOR RENTAL HOUSING IS
STILL STRONG BUT THE MARKET HAS
SOFTENED DUE TO ECONOMIC
HARDSHIPS, COURTESY OF COVID-
19.
19.
19. >>>
19. >>> I
19. >>> I TALKED TO WALLY MALICKI,
OWNER OF MALICKI MOTOR ABOUT
THE CAR BUSINESS AND HIS ADVICE
FOR CONSUMERS.
FOR CONSUMERS. WHILE HE SAID --
>> PRICES ARE GETTING HIGHER
BECAUSE OF THE NEW CARS ON THE
MARKET SO IN GENERAL IT'S BEEN
GOOD FOR DEALERSHIPS AND GOOD
FOR CONSUMERS GOT REALLY SOME
GOOD DEALS AND NOW THE PRICES
ARE UP ABOUT 15 TO 20% BECAUSE
OF COVID AND BECAUSE OF THE
SHORTAGE OF THE NEW CARS,
BECAUSE THE FACTORIES SHUT DOWN
FOR ABOUT THREE MONTHS AND NOW
THEY TURN IT BACK ON, BUT THE
DEALERSHIPS STAYED OPEN DURING
THAT PERIOD AND THAT'S WHAT THE
SHORTAGE CAME FROM.
>> Reporter: WALLY HAS BEEN IN
THE USED CAR BUSINESS FOR
YEARS.
YEARS.
YEARS. MALICKI MOTORS IS A STAPLE IN
THE COMMUNITY.
THE COMMUNITY. WE DISCUSSED HIS ADVICE FOR
CONSUMERS THINKING ABOUT BUYING
A CAR RIGHT NOW.
CONSUMERS SEEING DEALS OR
PAYING A PREMIUM DUE TO COVID-
19 IMPACTS?
19 IMPACTS? >> AS MUCH AS I HATE TO TELL
YOU THEY ARE PAYING PREMIUM ON
NEW CARS IN THE NEXT THREE TO
FOUR WEEKS UNTIL THE INVENTORY
CORRECTS.
CORRECTS.
CORRECTS. THERE ARE SOME DEALS ON NEW
CARS, OBVIOUSLY, WITH THE 0%
INTEREST AND REBATES ON LATE
MODEL CARS THAT REALLY
DEALERSHIP TRYING TO CLEAR, BUT
IN GENERAL REALLY IT'S A COUPLE
OF INCIDENTS THAT HAPPENED TO
ME, I SELL A CAR FOR A PRICE
AND I GO TO REPLACE IT, I
CAN'T.
CAN'T.
CAN'T. I
CAN'T. I GOT TO PAY ALMOST THE SAME
MONEY OR EVEN HIGHER PRICES TO
WHAT THE PRICE I SOLD THE CAR
FOR AND THAT'S AGAIN ABOUT 15
TO 20% HIGHER ON USED CARS
BECAUSE OF THE SHORTAGE OF THE
NEW CARS.
NEW CARS.
NEW CARS. >> Reporter: WHAT ADVICE WOULD
YOU GIVE CONSUMERS WHO ARE
THINKING OF BUYING A CAR RIGHT
NOW?
NOW?
NOW? >>
NOW? >> IT REALLY -- JUST BE
CHOOSEY, PICK WHAT YOU WANT.
IF YOU'RE LOOKING FOR CERTAIN
CARS, THAT'S WHAT YOU WANT,
JUST STICK -- MAYBE IF YOU CAN
WAIT, WAIT MAYBE A WEEK OR TEN
DAYS.
DAYS.
DAYS. YOU
DAYS. YOU DON'T HAVE TO RUSH TO MAKE
A DECISION TO BUY A CAR.
THE MINUTE THE NEW CAR DEALERS
START GIVING AWAY THE NEW CARS
AGAIN, SPECIAL RATES AND STUFF
AND WHEN THEY GET THE INVENTORY
THEY START GETTING THE TRADES
AND THEN USED CAR MARKET WILL
CORRECT AND BE BETTER FOR THEM
TO BUY USED CARS THEN.
>> Reporter: WITH USED CAR
PRICES UP 15 TO 20% IN SOME
CASES, I AGREE, WAIT IF YOU
CAN.
CAN.
CAN. THE
CAN. THE CAR MARKET WILL CORRECT.
THOSE LABOR DAY, THANKSGIVING
AND END-OF-YEAR DEALS ARE BOUND
TO RETURN.
TO RETURN. THERE'S YOUR BUSINESS BRIEF.
>> RYAN, AS ALWAYS, WE
APPRECIATE IT.
APPRECIATE IT. BETTER WAIT FOR