Mar

22

 I was just checking some fares for a short trip. What does it tell you about relative sector performance and inflation expectations when a round trip coach flight from Europe to JFK costs less than an upscale hotel room in New York? In other words, 15 hours in the sky at close to mach one is about equal to 24 rrs at zero speed in a Manhattan small luxury room! Air travel probably can't get much cheaper than this, but real estate in Manhattan could have some room to correct. Like Japan in the mid 80s the process could stretch on for a while before it reverts, if it ever does!


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