This means the economy is doing fantastic if they still $ for useless stuff.
Airbnb bookings for the solar eclipse reach astronomical levels
11–20 of 80 posts
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#12There is so much excess money floating in the economy at the moment. Its insane. People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow. Layoffs have been limited to tech.
Wish this "so much excess money" was evenly distributed
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#13Earlier quoted context omitted.
I love the lack of sympathy for tech workers across North America or perhaps even globally, when tech hub salaries still don’t allow tech workers to even have a middle class lifestyle. Very few people I know get paid enough to buy a starter home within 2 or 3 hours of where they work. I get paid more than my non tech peers yet still functionally have less spending power than a 25 year old from 30 years ago, despite b…
US middle class cleaved into two groups post pandemic: homeowners at 2% interest rates and everyone else. Its the new middleclass have and have nots. You have it pretty good right now if you are a homeowner.
This is short sighted.
People have been saying similar about the cars purchased in 2021 because they sell for well above asking. As 36-month leases start coming due the prices of those cars is normalizing back to where it should be.
All of the boomers that refuse to downsize and plan to die in their homes are going to do the same with the housing market, but in a more spectacular fashion that causes the market to crash.
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#14There is so much excess money floating in the economy at the moment. Its insane. People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow. Layoffs have been limited to tech.
Controlling inflation will hopefully be the main discussion around the next election, I am tired of watching the political theater around small side-issues and then paying $8 for milk and $6 for peanut butter. Why is our labor becoming worth less in real goods? Why is life expectancy decreasing? Can politicians address issues that affect every single person every day?
I make good money in tech but it still feels like more than 4k/mo (in California) is what you need just to cover rent and basics (car, internet, phone, groceries, etc.). I have no idea how people working minimum wage jobs are surviving.
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#15There is so much excess money floating in the economy at the moment. Its insane. People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow. Layoffs have been limited to tech.
Or, in inflationary times, people are spending their money today because it will be worth less tomorrow.
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#16Earlier quoted context omitted.
I love the lack of sympathy for tech workers across North America or perhaps even globally, when tech hub salaries still don’t allow tech workers to even have a middle class lifestyle. Very few people I know get paid enough to buy a starter home within 2 or 3 hours of where they work. I get paid more than my non tech peers yet still functionally have less spending power than a 25 year old from 30 years ago, despite b…
US middle class cleaved into two groups post pandemic: homeowners at 2% interest rates and everyone else. Its the new middleclass have and have nots. You have it pretty good right now if you are a homeowner.
In theory, those homes should start going down in value once people start selling because you can buy less home for a $2,000 per month mortgage payment. The market's weird right now because a lot of people with low interest rates can't afford to sell and buy something comparable.
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#17There is so much excess money floating in the economy at the moment. Its insane. People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow. Layoffs have been limited to tech.
Controlling inflation will hopefully be the main discussion around the next election, I am tired of watching the political theater around small side-issues and then paying $8 for milk and $6 for peanut butter. Why is our labor becoming worth less in real goods? Why is life expectancy decreasing? Can politicians address issues that affect every single person every day? I make good money in tech but it still feels like…
So you want deflation?
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#18Earlier quoted context omitted.
US middle class cleaved into two groups post pandemic: homeowners at 2% interest rates and everyone else. Its the new middleclass have and have nots. You have it pretty good right now if you are a homeowner.
This is short sighted. People have been saying similar about the cars purchased in 2021 because they sell for well above asking. As 36-month leases start coming due the prices of those cars is normalizing back to where it should be. All of the boomers that refuse to downsize and plan to die in their homes are going to do the same with the housing market, but in a more spectacular fashion that causes the market to cra…
On the boomer front, it's hard to say because it'll play out over 20 years, and there's a genuine supply shortage. There's also a chance a lot of their kids take the house over and sell something less desirable.
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#19This means the economy is doing fantastic if they still $ for useless stuff.
Assuming it were evenly distributed
Re: Airbnb bookings for the solar eclipse reach astronomical levels
#20There is so much excess money floating in the economy at the moment. Its insane. People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow. Layoffs have been limited to tech.
Controlling inflation will hopefully be the main discussion around the next election, I am tired of watching the political theater around small side-issues and then paying $8 for milk and $6 for peanut butter. Why is our labor becoming worth less in real goods? Why is life expectancy decreasing? Can politicians address issues that affect every single person every day? I make good money in tech but it still feels like…
> Controlling inflation will hopefully be the main discussion around the next election
You're conflating inflation with market gouging. Why would your local grocery store drop the price of milk? What's the incentive? You probably haven't stopped buying milk, I bet none of your neighbors have stopped buying milk. In most of the country you have at most 2 grocery chains that are probably mega-chains, and they have no incentive to compete with each other.
What you're seeing at this point isn't inflation, it's market gouging and unless you're onboard with the government either breaking up these oligopoly's or setting market prices, nobody running for office is going to be able to "fix it".
https://www.forbes.com/sites/errolschweizer/2021/03/18/anti-...
A "free market" cannot function without competition and we've spent the last 50+ years allowing and encouraging market consolidation. The results are as expected