Silicon Valley Folks Still Living The Good Life
from the not-worried-yet dept
Even with all this talk of downturns, recessions, and layoffs, it seems that plenty of people in Silicon Valley are doing just fine. It’s still tricky (12 month wait) to buy a BMW. Expensive houses are still being built. Golf courses are busy. Pilot training classes are busy. While there are certainly a lot more people out of work than there were before, and fewer jobs available, many people who made a lot of money have cashed out – or haven’t lost all that much (in the grand scheme of things). Others are just optimistic that things really aren’t that bad (those people might just be in denial, though). So, for the super rich, they have no problems waiting out the downturn, and are probably happy that the traffic problems will get better as the “riff raff” common-folk are driven from the area.
Comments on “Silicon Valley Folks Still Living The Good Life”
I’m sure a lot of people are still doing fine, but I’ve also seen some anecdotal evidence of people’s personal spending getting the most out of control just before they lose their job, their stock tanks, they get a big AMT bill, and so on. I’m probably reading too much into it, but I wonder if anybody is currently out there buying a $70K BMW or a boat because their current income level allows them to qualify for a loan or lease, even if they anticipate that in the near future their income will take a drastic plunge.