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Summary: Americans are spending a lot of money on vacations and fun experiences that they might've otherwise put off, because they are prioritizing to enjoy lif
by pcurve 3y ago
Summary: Americans are spending a lot of money on vacations and fun experiences that they might've otherwise put off, because they are prioritizing to enjoy life now than later.
Inflated housing prices made savings almost pointless and COVID crisis taught them about fragility of life.
- hackernewds 3y agoSo because housing is expensive, Americans are making even poorer choices by saving less for them? Make it make sense.
- willis936 3y agoSimple: housing affordability is racing out of reach at an accelerating rate. There is no future where the savings lift them into the landowning class, so they decide to not be as miserable as they could be if they futilely saved for something that would never happen.
- justaguitarist 3y agoExactly. My partner and I live in a big city and both make north of $80K, but there's no reality in which we can purchase a house when offers are coming in 10% above asking/waiving all inspections/all cash/etc. So we are choosing to put that house fund towards having an actual wedding (instead of a courthouse one like we originally planned), traveling, and putting a small amount back for emergencies.
- xboxnolifes 3y agohouses aren't the only thing in the equation.