Lifestyle Liquidation

More

Robert Frank notes some belt-tightening over at Richistan.

"Fire-sale auctions of mansions, yachts, sports cars and other trappings of wealth have become increasingly common as the rich become less rich.  ... Whether unable to pay their bills or loath to appear lavish at a time of national thrift, many millionaires and billionaires are unloading their baubles. In a twist on the estate sales of deceased celebrities, "living estate sales" have become increasingly popular."

Sure, some members of the nouveau riche are being forced to cut back. But a quick drive around the south Florida communes Frank writes about, or Beverly Hills and its environs, will turn up no shortage of high-end automobiles, designer hand-bags, and other markers of conspicuous consumption. And the growing popularity of the "Real Housewives" franchise illustrates that the haute gauche lifestyle continues to have mass appeal, however lurid. But the social zeitgeist is shifting away from such craven materialism. That's a broader social liquidation whose time is long overdue.

Jump to comments
Presented by

Richard Florida is Co-founder and Editor at Large of CityLab.com and Senior Editor at The Atlantic. He is director of the Martin Prosperity Institute at the University of Toronto and Global Research Professor at NYU. More

Florida is author of The Rise of the Creative ClassWho's Your City?, and The Great Reset. He's also the founder of the Creative Class Group, and a list of his current clients can be found here
Get Today's Top Stories in Your Inbox (preview)

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity


Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

CrossFit Versus Yoga: Choose a Side

How a workout becomes a social identity

Video

Is Technology Making Us Better Storytellers?

The minds behind House of Cards and The Moth weigh in.

Video

A Short Film That Skewers Hollywood

A studio executive concocts an animated blockbuster. Who cares about the story?

Video

In Online Dating, Everyone's a Little Bit Racist

The co-founder of OKCupid shares findings from his analysis of millions of users' data.

Video

What Is a Sandwich?

We're overthinking sandwiches, so you don't have to.

Video

Let's Talk About Not Smoking

Why does smoking maintain its allure? James Hamblin seeks the wisdom of a cool person.

Writers

Up
Down

More in National

From This Author

Just In