Obviously, no one knows how or when this will end. We just speculate based on our prior experiences. This cycle seems a bit different because part of it is fueled by new shooters. And it appears the entire pipeline is empty, and there is still significant pent up demand. Thats a nice way of saying the end doesn't appear to be anywhere soon.
Regardless of the media headlines, there seems to be a good number of folks with the money to buy when they see product on the shelves. In all this, Wally World seems to be a stabilizing force. They aren't profiteering, even if they do seem to supply those who do. They are probably the only entity getting large shipments. The problem being when they do, they just don't discriminate and sell to the first buyer who appears with cash. Some are rationing or limiting purchases, and that trickles some out to the folks with need.
Small gun shops are pretty much a joke these days. They either have bare shelves, or have priced the stuff so high they are the profiteers. Worse, while everyone complains about those who gouge the public, and in the same breath suggest we should support our small gunshops, it seems the small ones are the gougers.
The only sure place I've seen to buy ammo recently is at the gun shows. Its not cheap, and the last big show I went to was a month ago, but you actually could buy any caliber you wanted. Maybe not for the price you thought was fair, or in the quantity you sought.
My friend Joe managed to pick up a few boxes of aging .380s (I didn't even know he had anything in that caliber.) He also managed to buy a bunch of aged Super-Vel ammo. I did beg a box of 110gr 357s from him, and I bought a few myself from the vendor. What that tells me is this ammo shortage is bringing out all the stale ammo from shops and shooters closets. Stuff they thought they'd never sell is getting top dollar.
Rather than ending soon, I see the signs its getting more severe. And the local range has people waiting for lanes. From the noise you hear upstairs in the shop, there aren't signs of people conserving ammo. Shooting is going on just like the end of the world isn't fast approaching. If you expect his shortage to be over before fall hunting season or Christmas, good luck to you.
Oh. Don't buy a gun you can't get ammo to use. Its different for us old codgers who have some stashed away in all the essential calibers. I think its funny that when Ruger finally abandoned its principles and brought out a carry gun, they did so in a caliber that ammo isn't available to shoot!