What changes do you see?
My work-life balance has tipped heavily over into the work side, so this is going to be a quick one. I've read all over the internets that people are rapidly changing their saving and spending behavior in response to the economic shock. I'm not sure if I'm looking in all the wrong places or what, but I don't really see much in the way of change so far. The Starbucks near my house is packed every time I walk by, and the local grocery stores are as busy as ever. I see people with shopping bags from high-end stores on the street every day, and it doesn't look like restaurants are any less busy on the weekends.
There is one significant difference between now and six months ago: the number of really desperate people on the street has increased enormously. It's sad and upsetting, because although most of the people I've seen don't look like they came to that condition overnight, I don't remember seeing it this bad since my first year or two in the city, fifteen years ago.
What part of the country are you in, and do you see any major changes in people's economic behavior over the past few months?
9 retorts. What say you?
I'm in the Pacific NW. Don't hang out in the mall areas or near other major shopping centers, so haven't really noticed anything. Parking is hard to find at the local Freddies still, so that may be an indicator of something, not sure just what yet - perhaps people buying more groceries and not eating out as much. I'll pay more attention during the holiday season and compare it to last year. :)
Here in upstate New York, libraries are full and suburban malls are empty.
No changes yet in the DC-Metro area. I read that Wall Street laid off 100,000 people in the past year. Do you know anyone? From seeing the WSJ pictures, I wonder how they're coping now that severance is running out. I work at one of the twin GSEs and I'm surprised that my co-workers haven't cut back on their daily spending. Thanks for asking this question! Sincerely, J.
I haven't noticed any changes here in rural Ohio. Starbucks is also packed as are most shopping areas and restaurants. I did notice a few more houses with tomatoes & peppers planted out front, but that's it.
Not much different here at the New Jersey shore, including the slow-to-implement changes in my own house.
I know a couple that owns a retail spot in one of the Atlantic City casinos. The wife commented that sales are down, but they're still doing okay and glad to be working.
The biggest thing I notice: People complain a lot more about the economy while purchasing their overpriced Starbucks coffee. hehe
Hawa, author of
Fackin Truth Blog (Personal Blog)
and
Cleanse Master Remix (Health Blog)
The biggest thing i have noticed is people's perception of things (more negative) and how the economy is much more talked about. People are acting more conservatively, i.e. saving more. I think people are still shopping at their favourite stores, it's just that the frequency of shopping has slowed down. When my local starbucks starts getting emptier than I will know that things are real bad!
I have mostly noticed changes at work - companies are MUCH more cautious about spending. My wife's company released all consultants. We have pared back our hiring plans. BUT restaurants are still full, roads are still congested and on Saturday morning one can still not find a place to sit in the local favorite cafe...
My guess is that things are trickling down slowly here in California's Silicon valley, but they will hit and they will hit hard...
I live in a neighborhood of Boston that doesn't have a whole lot of homeless people around. I suddenly saw three different men sitting or sleeping on the sidewalk all day. It just occurred in the last few weeks. I wonder....
Anon the first - Dang. I kind of miss Fred Meyer. Do come back and let me know what you see during the holiday season.
Anon the second - Are the libraries open daily? In Manhattan, they are now closed on Sunday (have been for a couple of years) and seem to be chronically in danger of being shut on Wednesdays as well.
Anon the third (J): One of my banker friends got laid off six months ago and managed to find a new job in the same bank. Everyone else is hanging in there. All of the people I know in banking are scared to death right now, though.
Andy - I agree; you can't escape the dark economic talk around here either.
Susy - what do you think the first indicators will be? Possible reduced traffic at Starbucks is an obvious one, of course, but what else is indicative of hard times in your community? I'm just curious as to how it's different from a large city.
Hawa - the Jersey Shore is nice. I went there a few times last summer. If people are complaining over their Starbucks coffee now, I will be interested to see what they're doing six months from now.
Andy - I agree; you can't escape the dark economic discussions around here either. The mood of the community as a whole around here seems very glum.
Shadox - good point about corporate spending. We've been asked to cut way back at my workplace as well. All non-essential travel except for things like conferences that we paid for in the last FY is cancelled, and other expenses are really getting challenged. I am sorry to say that I suspect you're right about Silicon Valley: I think when the crisis hits home, your area is going to suffer greatly.
Rhea - Could be. It sure has become much more visible here all of a sudden.
Post a Comment