Economy Thread

[Koko]

15 hours ago, Ann said:

This thread is more than Airbnb 

 

 

 

My niece worked for a company that dealt with this stuff. She told me 18 months ago that eastern  Tennessee was going to collapse (we were looking for a house in the area). It is taking longer than expected.

 

 

 

 

Data from alltherooms

 

 

 

It's like the house-flipping fad back in the 2000's. Too many people got in too late, overextended themselves, and got caught when the bubble burst.

[Nouseforaname]

 

[Foxx]

12 hours ago, Nouseforaname said:

 

The other side of a pandemic of scale is really unchartered.

[Jauronimo]

This AirBnb apocalypse is not showing in their financials.  Q1 2023 results are up big over Q1 2022.  Analyst estimates show double digit revenue growth in 2023, 2024, and 2025 albeit decelerating.

[Nouseforaname]

1 hour ago, Jauronimo said:

This AirBnb apocalypse is not showing in their financials.  Q1 2023 results are up big over Q1 2022.  Analyst estimates show double digit revenue growth in 2023, 2024, and 2025 albeit decelerating.

Travel has been through the roof this year, particularly in Europe.  It might be a non recurring event with the way everyone is revenge traveling since the pandemic.

[Ann]

21 minutes ago, Nouseforaname said:

Travel has been through the roof this year, particularly in Europe.  It might be a non recurring event with the way everyone is revenge traveling since the pandemic.

Pent up demand is probably one reason.

I know that the cruise lines are full in part due to expiring credits from when cruising came to a halt in 2020 and people were given 125 -150% back on their paid for cruises in future cruise credits.    

 

[Nouseforaname]

https://finance.yahoo.com/news/behind-source-viral-airbnb-collapse-200500664.html

[Ann]

56 minutes ago, Nouseforaname said:

https://finance.yahoo.com/news/behind-source-viral-airbnb-collapse-200500664.html

Airbnb : our internal data you cannot see says everything is a-ok and we are only down a smidge.

The truth probably lies somewhere in the middle, but because no one is talking...
 

</snip>

 

AllTheRooms, which was founded as a vacation rental comparison shopping site a decade ago, emerges from this episode looking tarnished in part because of its total silence.

 

“As of today AllTheRooms has not gotten back to me regarding my questions about the big differences between their data and AirDNA’s,” Gerli said Saturday. “In the meantime, I’ve reached out to Airbnb several times and requested they provide their own data to settle the difference. And have yet to hear back from them.”

 

</snip>

[Ann]

A disaster waiting to happen....

[Foxx]

9 hours ago, Ann said:

A disaster waiting to happen....

I read something the other day where we are spending close to 4 trillion a year, a trillion every three months. Tax receipts from the US tax payer total 2 trillion dollars a year. Of that 2 trillion, almost 1 trillion goes towards interest on our debt. The numbers in the above would certainly seem to back that up.

[Foxx]

46% pay raise and 32 hour work weeks.

 

[Foxx]

Interesting...

 

[Ann]

5 hours ago, Foxx said:

Interesting...

 

"The silent depression."  Kid is right.
 

[Crap Throwing Clavin]

5 hours ago, Foxx said:

Interesting...

 

 

But we don't have 25% unemployment and 7% deflation.  The middle class is all-but annihilated, but that doesn't make a Great Depression.  

 

I don't think it's long coming, though.  Debt levels are unsustainable, so there's some sort of fiscal crisis on the way.

[Ann]

LOL The community notes. Problem is, this is probably on Tik Tok too, and those rocket-surgeons might be buying it.
 

 

[Billsandhorns]

On 9/9/2023 at 7:33 PM, Ann said:

LOL The community notes. Problem is, this is probably on Tik Tok too, and those rocket-surgeons might be buying it.
 

 

I've seen his video and his buddy Harry Sisson are paid 

[Ann]

[Koko]

On 9/13/2023 at 9:09 AM, Ann said:

 

Three loaves of bread and two cereal boxes? That's worth more than the GDP of a small country!

[Ann]

22 minutes ago, Koko said:

 

Three loaves of bread and two cereal boxes? That's worth more than the GDP of a small country!

My husband has been making bread for about a year now. He doesn't have one started this week, and we are out, so I was going to buy a similar (rustic, 1#) bread yesterday. $5.99!!!  I couldn't do it. How do people with families do it?

[Foxx]

Trickling down.