Interesting re price increases

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#2
Yep. Those with the money to do it, will keep buying. The rest of us with more modest incomes comparatively are scaling way back. But the more luxuries are purchased by the wealthy, the less the supply and the higher the cost to the rest of us.
 
#3
'People with money' is far less than the luxury items sales numbers support. This obsession with luxury items has really reared its ugly head in the last 10 -12 years. When people had common sense, the middle class didn't buy this stuff. Many of us grew up with not one 'luxury' name in our homes. (I grew up with rich kids that didn't own the stuff either.)

You ladies are smart & understand 'living your wage.'
Most people don't get that, nor do they care.

Sales tax figures have jumped in NV & they claim it's cause of people who've stopped paying their mortgages are now shopping with this money. :tdown:
 
#7
Vegas Long Legs said:
'People with money' is far less than the luxury items sales numbers support. This obsession with luxury items has really reared its ugly head in the last 10 -12 years. When people had common sense, the middle class didn't buy this stuff. Many of us grew up with not one 'luxury' name in our homes. (I grew up with rich kids that didn't own the stuff either.)

You ladies are smart & understand 'living your wage.'
Most people don't get that, nor do they care.

Sales tax figures have jumped in NV & they claim it's cause of people who've stopped paying their mortgages are now shopping with this money. :tdown:
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This post is SPOT ON. I totally think the middle class has a very inflated expectation of their lifestyle now compared to what it was even 20 or so years ago - that goes for their houses, cars, and luxury goods! What baffles me is how these people are all about to pay for retirement??
 
#8
ame said:
Yep. Those with the money to do it, will keep buying. The rest of us with more modest incomes comparatively are scaling way back. But the more luxuries are purchased by the wealthy, the less the supply and the higher the cost to the rest of us.
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That makes sense. Damn econonmics.
 
#9
kat99 said:
This post is SPOT ON. I totally think the middle class has a very inflated expectation of their lifestyle now compared to what it was even 20 or so years ago - that goes for their houses, cars, and luxury goods! What baffles me is how these people are all about to pay for retirement??
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ABSOLUTELY right. I wonder that all the time. Pensions are few and far between, and the few that do exist are all but tapped out. People don't sock anywhere near enough away to retire, but even earlier than that, how many socked anything away prior to the 2008 collapse? They just bought bling, bags, flashy cars. My former partner was like that. He had to have the best there was, but he was in debt up to his eyeballs. The truly wealthy without a care don't always flash it. They want to hang on to what they have just like the middle class does.
 
#10
ame said:
ABSOLUTELY right. I wonder that all the time. Pensions are few and far between, and the few that do exist are all but tapped out. People don't sock anywhere near enough away to retire, but even earlier than that, how many socked anything away prior to the 2008 collapse? They just bought bling, bags, flashy cars. My former partner was like that. He had to have the best there was, but he was in debt up to his eyeballs. The truly wealthy without a care don't always flash it. They want to hang on to what they have just like the middle class does.
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I've also noticed more people willing to stay home with their parents and then spend the money saved on outside luxuries for themselves. For example, rather than help with bills they prefer to buy themselves a new purse or car. This makes their parents work longer and postpone their own retirement because their children are incapable of trading the lifestyle they've become acustomed to for their own independence. In my age group of friends and peers, I am one of the very few people who is living financially independent of parents.
 
#11
I see people every day using their 401k as a bank account with taking one loan after another. It makes me sad. Even worse are those that do not see the value in opening a 401k.
 
#12
Actually, I was reading a fascinating article about the Japanese economy, and the rise of the luxury handbags.

The conclusion of the article was that because of the high cost of living and limited real estate - young people don't have a recognized path to financial stability. They live with extended family, they save what they can. But, since there isn't a lot of hope for change; you accept what you can have.
 
#13
Vintage Leather said:
Actually, I was reading a fascinating article about the Japanese economy, and the rise of the luxury handbags.

The conclusion of the article was that because of the high cost of living and limited real estate - young people don't have a recognized path to financial stability. They live with extended family, they save what they can. But, since there isn't a lot of hope for change; you accept what you can have.
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That's why a lot of young Japanese (and young Americans) are going to newly developing countries for better opportunities such as Brazil, Russia, India and China (BRIC).
 
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