CNBC reports that the newly-released Porsche 911 GT2 RS (that's a cool $329,000, for those of you who are in the market) sold out within two months of its debut.
Without getting into all the numbers, I'll just say that this car is really, really fast and really, really pretty. Apparently people like that. For a little tasty check out this video with intense German narration.
So during a (non) recovery, why were so many people wiling to spring for a $329,000 toy?
Well, the same article quotes a report by economist Neil Dutta, which found that luxury spending is up for several reasons, one of them being that "post mid-terms, if Republicans don’t capture the Senate, taxes for the wealthy are likely to go higher for investments, estates and income."
“We see several reasons for optimism about spending on luxury items,” wrote Dutta, saying that higher savings, less exposure to housing, rising equity investments, and a tighter job market for the college-educated create “a secular story that bodes well for those catering to upper income earners.”
In related news, millionaire optimism hit a 3-year high this month.
At least someone's feeling good.
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