I live in Vermont and the prices have gone up here, but not $12 yard! YIKES. They were always around $8-$8.50 and now are running between $9.50-$10.15/yard.
This is really sad as I know how much I love fabric, but there has got to come a point when you have to just say NO!
On a happy note, I have always felt extremely guilty for the stash that I own (I can't tell you how much I have, but let's say I could probably have paid a years worth of college for one of our daughters with it). Now I sit and smile at my stash (lots was purchased back in 2005 for $5/yard for the 'good stuff' - this is when I started quilting). This is my fabric fund that I can look at with pleasure now and not guilt, as I was such a wise shopper to get it at all those amazing old prices and hoarding it was clever too.
So, now I have a reason to use my stash. Most of the new stuff really looks like the old stuff anyways. I designer can only come out with so many lines until they all just start looking identical to me.
Just my .02
Suzanne