A trip to Disneyland costs thousands of dollars per person, Taylor Swift tickets the same, but these attract record crowds. Cruises and hotels and restaurants are full. How would you define an economic boom?
The way in which "booming economy" phrasing is used in conversation, one would imagine that it refers to growth in GDP that has a multiplier effect in the local economy. In practice, it really just means spending is up now, but will deflate as soon as credit is harder to come by.
A lot of vacations, cars and home improvements are funded by home equity loans, not actual disposable income.
Meanwhile the average American doesn't have a spare $1500 set aside for a life threatening emergency, let alone for a Taylor Swift concert.