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User Info CPI: ROFL!; entered at 2023-11-14 13:46:09
Posts: 16185
Registered: 2017-06-27 LifeMemberTheFreeMarket
Regular people know and they are volunteering in regular conversation unlike over the years when i had to lead them. They actually get a lot of TF style understanding, once again volunteering it. Yes, it is refreshing.

Perhaps some of our work individually and collectively is paying off...

Too many examples to describe here.

I am getting the strong impression that people are doing various combinations of the following.

They are focusing on the holidays being about family and friends, not consumerism with a general feeling that this might be more difficult to make happen in the near and extended future. This is a real shocker.

A lot of people are stretching to visit and spend time with others with a last time sense of it.

Gift sentiments are trending more towards practical small items and even food or personal things like good clothing or needed housewares.

This crosses all economic levels, very interesting.

There is a huge interest in people enjoying holiday nostalgia movies as part of the holidays, the real classics. The video services are engaging for this. I expect some religious groups to be more focused Spiritually. Staying home or having people over is a big deal.

People also know themselves that this is going to be different than the usual wait 5-10 years for another boom. It informs why some are having fun now as a last chance for a long time or in life, and others are sitting by the sidelines.

Lots of people are unloading RE with knowledge that the window is closing. Curiously when i have told potential purchasers to merely wait it out some are more of the mentality of wanting to be settled somewhere they like with the bad times coming and that it is hard to find nice places commensurate with all ranges of value. It is a concern that things will not be offered for sale for a long time which does have some validity. Those with secure jobs still fear higher interest rates more than too high purchase prices. People are accustomed to living on payments, and are having trouble reconciling waiting for low values and accepting high rates as good. This is a stretch for them to grok.

Christmas sales numbers are going to suck, and the holiday travel contacts are telling me that bookings are way down. Interestingly most people do not realize how much American recreation and tourism industry over the past thirty years has been supported by European pensioners. Foreign pensioners also drive a lot of our desirable retirement areas' RE forming its base. This is not often discussed. Reports to me are seeing both of these finally starting to dry up in a trend. There are a variety of reasons for this none of them interim or good for those who depend upon this subset of consumers.

It is over for a lot of assumptions, and the public increasingly knows it.
2023-11-14 13:46:09