I have been thinking a lot about affordability, without coming to a convincing answer. But I believe that every income or wealth group suffers from their own, specific affordability concerns. The poorest part of the population has true affordability issues, i.e., with rent, food, transportation etc. But the middle class and even the uppermost middleclass is suffering from unattainability syndrome. The lifestyle which they observe on social media, TV, or read about, requires much more money than they have, but they feel somewhat entitled to it. People remember a seemingly easier past when luxury hotels cost $300, great cars sold for 50k, and business class tickets were 2k. Even I fondly remember going on a packaged one week ski trip to Aspen for 4k - for two people, including flights, in 2004. The luxury segment has become ridiculous, but that's the world that everybody wants to be a part of. Luxury price inflation...
The people I know that are struggling, never learned to, or refuse to follow, one simple action. Delay gratification. The Chinese say ''bide your time and hide your capabilities." True.
The cure for higher prices is,..... higher prices. Glad I grew up unskilled working class household. I never missed what I did not have. I worked on the "get rich slowly" plan. We made it. Now, we still don't want "stuff." "'Happiness ain't just for high achievers."
I have been thinking a lot about affordability, without coming to a convincing answer. But I believe that every income or wealth group suffers from their own, specific affordability concerns. The poorest part of the population has true affordability issues, i.e., with rent, food, transportation etc. But the middle class and even the uppermost middleclass is suffering from unattainability syndrome. The lifestyle which they observe on social media, TV, or read about, requires much more money than they have, but they feel somewhat entitled to it. People remember a seemingly easier past when luxury hotels cost $300, great cars sold for 50k, and business class tickets were 2k. Even I fondly remember going on a packaged one week ski trip to Aspen for 4k - for two people, including flights, in 2004. The luxury segment has become ridiculous, but that's the world that everybody wants to be a part of. Luxury price inflation...
The people I know that are struggling, never learned to, or refuse to follow, one simple action. Delay gratification. The Chinese say ''bide your time and hide your capabilities." True.
I just pre ordered a copy of the book, looking forward to it
thank you!!!!
The cure for higher prices is,..... higher prices. Glad I grew up unskilled working class household. I never missed what I did not have. I worked on the "get rich slowly" plan. We made it. Now, we still don't want "stuff." "'Happiness ain't just for high achievers."
Great news about your book.