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SVTPerformance's Chain of Restaurants
Road Side Pub
AZ here I come !!!!
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<blockquote data-quote="MFE" data-source="post: 16369722" data-attributes="member: 36397"><p>They can afford it because everything else around them, including the taxes and licensing on the vehicle, is cheaper. They can afford to buy that same F150 because they're not paying so goddamned much for eveything else, which costs more in higher income states because the higher incomes go to pay for higher costs and the higher costs lead to higher incomes and on and on.</p><p></p><p> Decades ago, I worked for a company that had a set amount of "per diem" spending allowance for travel. Many people do. But in this case it applied everywhere except New York City. For travel there, the allowable per diem was higher. I thought to my young self...that's messed up. We're kind of providing a subsidy of an artificially expensive market. If we didn't offer that subsidy, and thousands of others like it, fewer people would do business there, and the market might correct itself. But the market hasn't corrected itself (yet). </p><p></p><p>That does not mean that markets like NYC and San Francisco and SoCal are any more economically sustainable than they've ever been, it just means that we've been propping them up higher and longer than ever thought possible. They will crash. And it's gonna hurt.</p></blockquote><p></p>
[QUOTE="MFE, post: 16369722, member: 36397"] They can afford it because everything else around them, including the taxes and licensing on the vehicle, is cheaper. They can afford to buy that same F150 because they're not paying so goddamned much for eveything else, which costs more in higher income states because the higher incomes go to pay for higher costs and the higher costs lead to higher incomes and on and on. Decades ago, I worked for a company that had a set amount of "per diem" spending allowance for travel. Many people do. But in this case it applied everywhere except New York City. For travel there, the allowable per diem was higher. I thought to my young self...that's messed up. We're kind of providing a subsidy of an artificially expensive market. If we didn't offer that subsidy, and thousands of others like it, fewer people would do business there, and the market might correct itself. But the market hasn't corrected itself (yet). That does not mean that markets like NYC and San Francisco and SoCal are any more economically sustainable than they've ever been, it just means that we've been propping them up higher and longer than ever thought possible. They will crash. And it's gonna hurt. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
AZ here I come !!!!
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