For more information and show notes visit: https://bwmplanning.com/post/85 In this episode of Financial Planning for Oil and Gas Professionals, hosts Justin Brownlee and Jared Machen discuss their theory on resort town hyperinflation, do a residential real estate heat check, and delve into back-to-school financial topics. Challenges Faced by Resort Towns and Luxury Vacation Inflation Resort towns and luxury vacation destinations are grappling with a unique challenge that could result in inflation surpassing that of other sectors of the economy. We dive into how these areas have witnessed a significant surge in prices over recent years, rendering them unaffordable for many. The primary issue highlighted is the struggle to establish the necessary infrastructure to sustain the workforce essential for maintaining these locations. Workforce Shortage: Resort towns often encounter difficulties in attracting and retaining an adequate workforce to support their daily operations. From stocking grocery shelves to providing services at upscale hotels, these towns rely on a large number of employees. However, with housing costs soaring, it becomes increasingly tough to entice individuals to work in these areas.Geographical Challenges: Many resort towns are situated in remote areas, far from major cities and transportation hubs. This geographical isolation further complicates the workforce availability issue. Without a steady influx of workers, these towns find it challenging to uphold the necessary services and amenities for residents and visitors.High Infrastructure Costs: The cost of living in resort towns is often exorbitant, with even basic housing options reaching millions of dollars. This high cost of living extends to businesses operating in these areas, making it financially burdensome to provide affordable housing for employees.Reliance on Wealthy Patrons: The episode mentions instances where ultra-wealthy individuals have subsidized housing for full-time workers in resort towns. This dependence on affluent benefactors to support the workforce underscores the unsustainable nature of the current economic model in these areas.Demographic Shifts: The episode also touches on the demographic trends influencing the demand for resort town properties. With an increasing number of high-net-worth individuals and decamillionaires, the demand for luxury vacation homes is on the rise, further propelling prices in these areas. The challenges faced by resort towns in providing infrastructure for their workforce are contributing to a scenario where luxury vacation inflation may outpace inflation in other economic segments. Residential Real Estate We discuss the current state of the residential real estate market, highlighting its normalization. This normalization is characterized by increased inventory and longer listing times, indicating a shift from the rapid market pace seen in previous years. In areas like Northwest Arkansas and DFW, more homes are being listed for sale, and these homes are staying on the market for longer periods compared to the previous boom. Public vs Private Schools The decision between public and private schools for children is a complex and highly personal one, as discussed in the podcast episode. There are various considerations that parents need to take into account when making this decision. One key factor mentioned was the desired end product for the child. Parents often consider what type of education and environment will best prepare their child for the future. This could include factors such as academic rigor, extracurricular opportunities, and overall school culture. As always, we encourage our listeners to reach out with any questions or...