I think its been a combo of all of the above Gary. Price of alcohol to run em (if running alcohol) the "claimer" engine days are long gone.
Equipment getting tore up is never a good thing via driver or rough tracks. price of diesel and gas are not helping any race track at this point. Payouts at local shows have gone down EVERYWHERE. Price of racing in general is crazy right now. Drivers who would possibly consider a Modified found they can have lots more fun in a Xmod less money less stress! I run IMCA modified up here in aztec but run a limited schedule that keeps us racing and not to broke. As far as IMCA or USRA or UMP Modified racing in general is way way expensive anyone who thinks imca is "cheap" is way off. In fact take regular parts wheels spindles whatever and add 10-20 dollars lol for that nice imca sticker! I also dont need to remind anyone what a nice imca engine will run these days.