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Yeah, funny how property markets always seem to have that same response. I bet most of those same people would lose their minds if their favourite restaurant t
by pentaphobe 1y ago
Yeah, funny how property markets always seem to have that same response.
I bet most of those same people would lose their minds if their favourite restaurant tried to double prices overnight. "Yeah we sold a lot of burgers yesterday..."
- AlotOfReading 1y agoI wonder how much "value" would actually be lost from the market if prices were simply fixed a month or two ahead of time to exclude those price shocks.
- orangecat 1y agoIf a restaurant is so popular that they're often running out of food, it's perfectly reasonable for them to raise their prices.
- hackable_sand 1y agoNot during a famine
- Auracle 1y agoI’d argue that’s a better time to do it? People will eat less, conserving food.
- pentaphobe 1y agopopularity is irrelevant - the context is day-to-day. Prices change slowly over time of course, but that's different. If there was less egg available for a given day, McDonald's [^1] don't charge more for a McMuffin, they sell fewer McMuffins I'd argue AirBnb's approach here is more like Uber's surge rates. Which are clearly more extreme than anything taxi cabs did (bar the occasional bad actor) [^1]: mcdonalds is stretching the "restaurant" analogy here, but they have a higher consistent turnover so seem like a closer comparison
- ChrisMarshallNY 1y agoThat’s actually what happened around here, during inflation. Restaurants are now double what they were, just a couple of years ago; even the cheaper ones. The prices shot up, and have yet to back down.