Reply to Trying to buy a ski condo, completely priced out

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It really is amazing how good covid was for the upper class: so much money flowed into the economy, huge stock market gains, large pay increases (not experienced by the middle and lower classes) -- all of it is on display with what is being described here. Every asset class for the rich -- from art to vacation homes -- has experienced dramatic gains in the past two years.[/quote]

What do you consider "upper class"?  Not being snarky, I'm truly curious because I think there are a few misconceptions about this floating around.[/quote]

If you're buying a vacation condo for at least $400,000, you're probably in the upper class. It might not feel that way (I get it, it always feels like I am barely getting by), but it's true. Anyways, I don't want to turn this thread into a debate over terminology -- my simple point is that the crazy price appreciation in vacation homes didn't come out of nowhere; it began during covid for a reason. So when someone says that they had 100% appreciation on a vacation home during covid, I believe it because that's what happened for many asset classes that are discretionary purchases.[/quote]

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