> People emboldened by market and housing gains have to been spending ridiculous amounts of money like there is no tomorrow

what are you basing this claim on? the fact that airbnb bookings are up for a rare celestial event?

here is where all of my ridiculous amounts of money is going towards: $6/gal gas in california, ever-increasing property taxes, ever-increasing insurance premiums, $399 "surgery" charges at an ENT simply because they looked up my nose for half a second, insanely expensive annual car registration charges, etc.