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The Economy

My wife's company is forcing RTO in Q4 and they're prepping to tell the whole company. She's bracing for all the departures and calamity because the C-suite thinks they won't have any turnover...in a city that is 26% remote work lol
 
SeanMayTriedToEatMe said:
www.cnbc.com

Delta CEO says carrier went 'too far' in SkyMiles changes, promises modifications after frequent flyer backlash

Delta's CEO said the carrier wanted to "rip the Band-Aid off" with changes to SkyMiles program.
www.cnbc.com www.cnbc.com
Click to expand...

I switched from American to Delta two years ago. Flying Delta while I still have status, then probably switching back to American (bleh) unless Delta makes significant changes. I can't imagine losing status on all the airlines, if I'm stuck flying cross country in a middle seat I'll probably just quit my job.
 
Delta shouldn’t be surprised at the blowback. Their changes were very harsh to their loudest customers. I think they should probably trust their nerds on this, but public companies gotta keep face.
 
I don’t even know what any of this means. I fly like 6 times per year for business, use my Chase credit card for 5% cash back, and get reimbursed. I don’t even think about potential airline perks. Am I doing something wrong? This is only for people who fly way more than that to be concerned with, right?
 
My guess is Delta will dial back the spending levels needed for each medallion tier by 15% or so, maybe lower the cap needed to unlock more lounge visits down to $50k, and announce some new mechanisms for earning loyalty spend. What they won't do is throw a bone to the actual frequent economy/main business fliers, who still don't understand that they aren't particularly profitable, if it all, and thus aren't the type of business Delta/Amex is trying to attract.
 
SeanMayTriedToEatMe said:
I don’t even know what any of this means. I fly like 6 times per year for business, use my Chase credit card for 5% cash back, and get reimbursed. I don’t even think about potential airline perks. Am I doing something wrong? This is only for people who fly way more than that to be concerned with, right?
Click to expand...

Lounges are pretty great, especially if you have 3+ hour layovers. But unless you would absolutely use the free companion pass ticket each year to make up for the annual fee of these cards, then no they aren't worthwhile at that level of flying.
 
I'm sitting in a lounge right now. It's the best perk of any airline rewards program.
 
How in the world could they connect those drugs and their side effects to their sales? Are they asking shoppers what medications they take before shopping? Did they know that information beforehand to use as a comparison? I don't understand something.
 
Topher said:
How in the world could they connect those drugs and their side effects to their sales? Are they asking shoppers what medications they take before shopping? Did they know that information beforehand to use as a comparison? I don't understand something.
Click to expand...
That was my thought. Either they’re using their pharmacy data in a vastly inappropriate manner, or they’re using body recognition technology to track how fast their fat ass customer base is losing weight.
 




Not mentioned is that a lot of us living in these ZIRP mortgage homes, in a decade are essentially trapped in 30-50 year old buildings, which are going to command I presume six figures worth of maintenance just to keep standing, in addition to the amortization schedules of 30 year notes that fuck you over the first half or so.

Hell, full house window replacements are more than a car now. Guessing the break even point vs. renting is still wildly beyond the average move/sell date of seven to eight years after purchase, so those people will ultimately lose money. I’ve pivoted on this quite a bit recently and don’t expect the “huge divide” alluded to for reasons above as I doubt most will live in their starter homes for 15 or 20 years or w/e the break even point is.

Wish I had signed one of those interest-only mortgages SMTTEM has talked about.
 
I knew going into the home buying process that ROI on a primary residence isn't going to come close to what you can get with basic low-fee stock funds, so the less you invest in a home, the better, over any reasonably long time horizon. Then you need to consider the sliding scale of paying less upfront versus maintenance. Owning equity in a home is generally for suckers who still value living the American dream.

Currently, it is doing good for my mental health as the stock markets plunge, and I do see some long-term diversification value in the asset. The tax treatment is also phenomenal, with no taxes up to $500k gain for married filers and stepped up basis upon death (stocks have this too, but I think it's infinitely more likely that step-up gets eliminated for stocks during our lifetimes than for residences). I think if you bought a house at some point in the COVID/slightly pre-COVID era, it's close to a wash with any total market stock fund at this point, up to $500k in gains. Definitely the best play would've been an interest-only mortgage at 1.5-2.0%, though. Lenders must be irate when they see a $5M mortgage on their books that they're collecting 1.5% on over the next 25 years.
 
Were people really getting 1.5-2% interest only 30 year mortgages?? I would have assumed rates on those were always significantly higher, all else equal.
 
I think the people getting those mortgages were the ultra-wealthy type who also had to put stuff like company stock down as additional collateral, so I assume the rates were lower, but you’re right - I was thinking of the 15-year fixed rates, which I know got down to 1.75 at their lows for high credit rating folks.
 
We closed on my new construction Oct 19. Refinanced a year later at 2.375% for 30. Paid $140ish per sq/ft, and the last two homes sold in here were sold for $310ish per. It’s stupid.
 
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