While I was in the middle of writing a long meditation on the moral obligations of the rich, I received the following email…
What interesting lessons about personal finance and the economy can we take away from the fact that web sites like AirBnB and VRBO are upending the market for $1,000-a-night rentals in the Hamptons? Probably none. But it is marvelous to know that there is a therapist in East Hampton willing to report with a straight face that “one of her patients’ top anxieties these days [is] the explosion of short-term rentals.”
The rich really are different than you and me, aren’t they?
Photo by the author.
Will future generations will look upon us City dwellers with pity or scorn? Actually, scratch “future generations.” How about “denizens of Pittsburgh, Denver, Lincoln, or pretty much any other damn place besides San Francisco”? Because the folly of living in New York City, it keeps getting more intense. According to Curbed, which gleaned data from Zumper, median rents for a one-bedroom in the City this past month leaped from “Astronomical” to “More Than Your Great-Grandpa Made in a Year.” They ranged from $1,200 in Brownsville, Brooklyn, which is a place Lena Dunham never lived, to a whopping $4,210 in TriBeCa, in Manhattan, which is a place she did.
Apparently we can blame the Greenpoint price spike on her (a median one-bedroom now sets you back an exorbitant $2,275), since after she set her TV show “Girls” there, the neighborhood exploded. Of course, even the ‘point can’t compare to what I lovingly call “Barely Brooklyn,” the parts of the borough that may as well be Manhattan:
My partner and I recently acquired a KYMCO 50 Agility Scooter for $1,700 after tax, on a loan.
“Who needs money, beautiful people travel for free!” That’s the insane tagline for this insane website that is supposed to set up wealthy people with beautiful traveling companions … meaning wealthy men with beautiful women from the looks of things.
“How much money do I need to create giant floes of gold in a private vault and dive into it like Scrooge McDuck?”