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Would you be interested in a refund?

October 27, 2023

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The High Cost of Dating in an Era of Soaring Expenses

A new dating trend reflects how the skyrocketing cost of living is changing romance. Some men are now asking women for refunds after a first date doesn’t lead to a second. It seems outrageous, but it highlights real economic anxieties.

First dates cost an average of $77, according to LendingTree. That’s a lot to spend upfront, especially for millennials already struggling with stagnant wages and rising inflation. While it’s unreasonable to ask for money back after one date, the impulse comes from feeling like you wasted an investment.

We see this in other areas of life too. Customers often ask for refunds when products disappoint. “The customer is always right” is a standard of American capitalism. But this notion breaks down in certain sectors, like real estate.

For example, clients can’t ask for refunds from mortgage officers who make mistakes. The services are prepaid, even if the results underwhelm. This principle is now being challenged in a class action lawsuit alleging real estate commissions are arbitrarily high. The suit argues home sellers shouldn’t have to pay for buyer agent services.

But most sellers know buyer agents work hard to find the right home at the best price. Their efforts ultimately benefit the seller too. Is it fair to stiff agents just because buyers can’t pay them directly? The lawsuit seems more about lawyers profiting off controversy than meaningful reform.

In the end, whether it’s dating, dining out or buying a home, you can’t treat personal services like commercial products. Refunds might make sense for shoes, but not for first dates. As costs rise, we’ll all have to re-calibrate expectations about what’s reasonable. Maybe we should start by not spending $77 on a first date!