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Inflation has been a very hot topic over the past couple of years. We saw serious effects on food and real estate – affecting everyone who eats and requires shelter (i.e. every human). But I often wonder how much of inflation is the recent perfect storm of supply and demand issues vs. what we want (or atleast are willing) to pay for?
Regarding real estate, I often see what I call “taste inflation,” especially where we currently live outside of Washington, D.C.
Like, where are the normal-people houses?
And then I realize that the normal-people houses sell so fast, they barely hit the listings. So you’ve got high demand for normal-people homes, which pushes their price up.
But the new builds aren’t an answer to this high demand; they look a lot like luxury mini-mansions (or actual mansions) off of HGTV Dream Homes, which pushes their price up even further.
The House Hunters first-time home buyer cliché, circa 2006, enters my mind.
[Young couple who just got married]: “Well, (disappointed sigh) there are no granite counters… and we really need more space for entertaining.”
[Cue: Viewer eye roll.]
But now even granite’s no good; it has to be quartz. What’s next?
I think back to childhood when my family moved “up” in the world to a bigger house, circa 1993. Soon the new hunter green Formica kitchen counters were installed, which coordinated with the hunter green wall-to-wall carpet and ivy patterned wallpaper. Very fancy. Very hunter green.
I look at today’s house listings and wonder, will luxury vinyl tile be the next Formica? All the rage today, disdained the next?
And what about groceries? Whenever people resist shopping at Aldi, it usually includes something about the produce not being as delectably fresh, or available year-round, as we’ve all come to expect in American grocery stores.
No doubt, it’s often second pick or non-existent raspberries at Aldi.
But we must ask ourselves: how much is the next level of quality and convenience truly worth?
We’ve gotten rather fancy as a society, but (and here’s the kicker) then we complain about how much it costs.
And this universal truth affects us on every level – from our groceries and clothes to our cars and houses.
But is what’s en vogue (and more expense) actually better?
Does quartz perform notably better as a kitchen counter than granite, or steel, or wood… or Formica? Couldn’t we just eat fresh berries when they’re in season in our own hemisphere?
These kinds of “progress” have a literal price and undoubtedly contribute to the higher price of life over time.
The question is whether we’re going to continue driving the upgrades (by paying for them) or start asking ourselves what is simply enough and hang onto more hard-earned dollars… while embracing some bruised fruit.
“I should be very clear on this: There are times when convenience is absolutely worth the price… However, if your lifestyle is being compromised in any of the areas above (i.e. finances, health, intentionality, or overconsumption), you might want to reevaluate what purchases you are making purely for the sake of convenience. Because maybe the cost has become too great.”
Joshua Becker at becomingminimalist.com
“You will never feel okay by way of external accomplishments. Enough comes from the inside. It comes from stepping off the train. From seeing what you already have, what you’ve always had. If I person can do that, they are richer than any billionaire, more powerful than any sovereign.”
Ryan Holiday is Stillness is the Key
I hope you enjoyed this edition of Under 2, an email series designed to share quick bites of wisdom to empower your financial journey (while keeping it short). Be sure to sign-up below to get these messages in your inbox.
All for now,
Lindsey
P.S. I love watching House Hunters, but that doesn’t mean I can’t sometimes roll my eyes.