Fashion Valley is always packed. I don’t get it….I think most of the parking is for the restaurants. Pottery Barn and Restoration Hardware are usually empty. The busiest stores are Victoria’s Secret and the Apple store and Nordstrom’s. Housing, auto sales, home improvement/furnishing retailers are feeling the slowdown, but other retailers are still doing well. Could it be that people are out of money for the $40K bathroom remodel, but not for the $95 shoes? So the less costly retail items are still selling. That’s been my conclusion so far. What do you think?

I also noticed that the lending guidelines are not yet enacted, so MEW is still going strong.