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Is the age of mass commercial tourism coming to an end?
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sanbruno Offline
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Post: #26
RE: Is the age of mass commercial tourism coming to an end?
(07-26-2019 09:34 PM)sonoran_ Wrote:  
(07-26-2019 02:53 PM)sanbruno Wrote:  
(07-26-2019 12:59 PM)Solitaire Wrote:  I've been a travel nurse off & on for about sixteen years now. I've seen short-term rental prices skyrocket in the last five years. I took a two year break and lived down in Arizona with a crazy woman (long story with that wacko), when I showed back up to California in August 2017 to work again, everything was outrageously priced. I looked on airbnb again just recently and people are putting tents in their backyards and charging $50-60 a night.

As for tourists, well my little story won't shock anyone. It's a truism that Americans are the mongs of the tourism industry. I stayed for a month with my brother in Playa del Carmen just recently (medical tourism for myself). We went to Walmart there, was super busy with locals everywhere, lots of low volume background noise due to conversations. Cue the Americans practically yelling at one another, standing three feet away from each other. Over and over again. It was American tourists every time. Same thing on Fifth Ave, the beach, everywhere. Heavy sigh.

We are right back to mid-2000s financial exuberance. Hotel rooms downtown in my midwestern metropolis are once again hitting well over $200, even $300 a night. Everyone with a pulse is financing and leasing new cars. I'm currently in the job market and it's astonishing how many jobs, even skilled positions pay less than $20 an hour. The middle and working classes in the US have replaced wage growth with debt. Just in my own social circles, the majority of my friends are either propped up by parents/in-laws or essentially live off debt that will never re-paid. I know women that finance new cars and spend thousands a year on clothes, yet have 80k in student loan debt, delinquent bills stacked on their counter tops, and can barely scrape rent month to month. Of course their social media will always tell a vastly different tale, thanks to $90 Spirit Air deals, and endless high rate credit card offers.

Your post is 100% spot on.

Can you expand on the bolded part? I have a pretty good understanding of the market cycles and recessions but I never really considered wage stagnation as something that happens at the highs of exuberance. I was in grade 9 around 2008 so obviously my knowledge is now from experiencing it in real time.

You probably have more understanding than I do. I guess what I was getting at was that Americans can seem deceptively wealthy, but when you sit down and actually look at what many jobs actually pay, you'll see that many are BARELY getting by. I know because I've done it myself. Even skilled laborers in HVAC, welding, etc. often start at measly wages. Truck drivers are supposedly in dire "shortage" yet I see all kinds of job openings in the $20/hr range for class A drivers. The reality is, it is NOT easy to make more than 40-50k for your average American, yet you would never guess it by outward appearances.
07-27-2019 04:13 AM
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RE: Is the age of mass commercial tourism coming to an end? - sanbruno - 07-27-2019 04:13 AM

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