They still have excess money from COVID. — They’re still spending it down. Housing prices are up, stock prices are up, jobs are plentiful
How much money do they think people have left over from Covid?
People got like $3200 total in stimulus checks - or a couple months rent in most parts of the country. There is no way most people have this money 3 years later.
Also stocks and home prices being up is good for some people (old) and bad for others (young).