The post-covid luxury spending boom has begun. It’s already reshaping the economy.

For a cost that ranges between $200,000 and about $2 million, Pacaso users can buy an eighth of a limited liability company that controls a villa, cabin or bungalow in tony markets such as Palm Springs, Calif.; Park City, Utah; or Malibu, Calif. In exchange for a one-time, 12 percent cut of the purchase price, the company takes care of maintenance, furnishing and logistics, while owners get their share of the home’s appreciation or depreciation and can book stays using an app.