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Airbnb bookings for the solar eclipse reach astronomical levels

economist.com

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Re: Airbnb bookings for the solar eclipse reach astronomical levels

#31

Post by NovemberWhiskey »

tw04 wrote: post #20
ericmcer wrote: post #14

Earlier quoted context omitted.

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 i…

The definition of inflation is "a general increase in prices"; it doesn't matter why that's happening. Do you think that stores weren't trying to sell products for the highest-possible price previously?

Price-gouging is not what we're seeing here - there's no supply constraint. What we're seeing is just the market price.

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#33

Post by nickpp »

dfxm12 wrote: post #10
Solvency wrote: post #9

Earlier quoted context omitted.

> People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow what are you basing this claim on? the fact that airbnb bookings are up for a rare celestial event? here is where all of my ridiculous amounts of money is going towards: $6/gal gas in california, ever-increasing property taxes, ever-increasing insurance premiums, $399 "surgery" charges at an ENT…

Seriously. For all we know, these are relatively local people who had to settle for this cheap "vacation" instead of a more expensive/longer trip further away... Relatively few people own stocks & home ownership has tapered off & isn't back to its pre pandemic highs... Maybe these things show the people that were doing well are still doing well, but we knew that already.

> Relatively few people own stocks

61% of Americans, says Gallup [1]. Not sure if this includes those indirectly owning stocks, through pension funds.

[1] https://news.gallup.com/poll/266807/percentage-americans-own...

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#34

Post by paxys »

refulgentis wrote: post #28

I don't understand the efforts I'm seeing people in Boston go to. We'll see it 94% obscured, meanwhile people are taking days off work and spending $$ to get to 99.9%. Then again I've never been a vacation person.

Here's an explanation for it – https://xkcd.com/2914/. If you are not in the path of totality you aren't really seeing "the eclipse". The difference between 20% or 50% or even 90% covered is very minor.

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#36

Post by shadowgovt »

NovemberWhiskey wrote: post #31
tw04 wrote: post #20

Earlier quoted context omitted.

> 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 i…

The definition of inflation is "a general increase in prices"; it doesn't matter why that's happening. Do you think that stores weren't trying to sell products for the highest-possible price previously? Price-gouging is not what we're seeing here - there's no supply constraint. What we're seeing is just the market price.

> there's no supply constraint

Where else are most Americans going to get milk than their local grocery store monopolies or duopolies?

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#37

Post by tw04 »

NovemberWhiskey wrote: post #31
tw04 wrote: post #20

Earlier quoted context omitted.

> 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 i…

The definition of inflation is "a general increase in prices"; it doesn't matter why that's happening. Do you think that stores weren't trying to sell products for the highest-possible price previously? Price-gouging is not what we're seeing here - there's no supply constraint. What we're seeing is just the market price.

>What we're seeing is just the market price.

There is no market price when there is no competition. You cannot have a free market without competition.

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#38

Post by refulgentis »

paxys wrote: post #34
refulgentis wrote: post #28

I don't understand the efforts I'm seeing people in Boston go to. We'll see it 94% obscured, meanwhile people are taking days off work and spending $$ to get to 99.9%. Then again I've never been a vacation person.

Here's an explanation for it – https://xkcd.com/2914/ . If you are not in the path of totality you aren't really seeing "the eclipse". The difference between 20% or 50% or even 90% covered is very minor.

Ty (and also to your peer commenter)

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#39

Post by scilro »

tw04 wrote: post #20
ericmcer wrote: post #14

Earlier quoted context omitted.

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 i…

You're not wrong, but what you're describing is referred to as "seller-side inflation" or "excuseflation."

Article from a year ago: https://www.bloomberg.com/news/articles/2023-03-09/how-excus...

Re: Airbnb bookings for the solar eclipse reach astronomical levels

#40

Post by switch007 »

apwell23 wrote: post #3

There 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.

Yup. Larger properties round here are going for £50-150k above last sale price (last sales being 4-6 years). It's madness.
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