Am I oblivious?

[NeetaT]

I just moved to San Diego and I am renting in the Mission Valley area. Either I am oblivious to the so called bad economy or the ostensible bad economy really doesn’t exist. I have noticed that people are still driving their cars like there is no tomorrow. Other observations include people shopping until they drop at the Fashion Valley Mall, a very expensive place to shop; people standing in long lines at restaurants, people buying $10.00 drinks, people competing for expensive apartments, people gambling like fools at the Indian casinos, etc. I also noticed the same thing occurring in Orlando, FL where I was on a business trip. People were actually taking their whole families out to eat at crowded expensive restaurants. I was there alone and had to stand in line every night. I guess what I am trying to say is, I don’t feel sorry for all those who complain about it being a bad economy. When I am able to drive my car on empty streets and not have to stand in lines at restaurants, I will call it a bad economy. As a matter of fact, I would be afraid to see what is considered a good economy.

[austinkid]

I have to agree with you. By anecdotal evidence, it sure doesn’t seem like a recession… especially here in Austin. I was out in San Diego the other week, and everything seemed the same as usual.

But, a recession is defined as two quarters of negative growth. That doesn’t mean things get awful, just that things flatline and recede even just a tad.

I don’t think housing prices in the nice areas are going to come down in a big way until we start seeing some decent size job losses in white collar jobs. For some reason, that hasn’t happened yet outside of the mortgage arena, and I think the jury is still out on whether it’s going to happen or not.

[austinkid]

I have to agree with you. By anecdotal evidence, it sure doesn’t seem like a recession… especially here in Austin. I was out in San Diego the other week, and everything seemed the same as usual.

But, a recession is defined as two quarters of negative growth. That doesn’t mean things get awful, just that things flatline and recede even just a tad.

I don’t think housing prices in the nice areas are going to come down in a big way until we start seeing some decent size job losses in white collar jobs. For some reason, that hasn’t happened yet outside of the mortgage arena, and I think the jury is still out on whether it’s going to happen or not.

[austinkid]

I have to agree with you. By anecdotal evidence, it sure doesn’t seem like a recession… especially here in Austin. I was out in San Diego the other week, and everything seemed the same as usual.

But, a recession is defined as two quarters of negative growth. That doesn’t mean things get awful, just that things flatline and recede even just a tad.

I don’t think housing prices in the nice areas are going to come down in a big way until we start seeing some decent size job losses in white collar jobs. For some reason, that hasn’t happened yet outside of the mortgage arena, and I think the jury is still out on whether it’s going to happen or not.

[austinkid]

I have to agree with you. By anecdotal evidence, it sure doesn’t seem like a recession… especially here in Austin. I was out in San Diego the other week, and everything seemed the same as usual.

But, a recession is defined as two quarters of negative growth. That doesn’t mean things get awful, just that things flatline and recede even just a tad.

I don’t think housing prices in the nice areas are going to come down in a big way until we start seeing some decent size job losses in white collar jobs. For some reason, that hasn’t happened yet outside of the mortgage arena, and I think the jury is still out on whether it’s going to happen or not.

[austinkid]

I have to agree with you. By anecdotal evidence, it sure doesn’t seem like a recession… especially here in Austin. I was out in San Diego the other week, and everything seemed the same as usual.

But, a recession is defined as two quarters of negative growth. That doesn’t mean things get awful, just that things flatline and recede even just a tad.

I don’t think housing prices in the nice areas are going to come down in a big way until we start seeing some decent size job losses in white collar jobs. For some reason, that hasn’t happened yet outside of the mortgage arena, and I think the jury is still out on whether it’s going to happen or not.

[austinkid]

Perversely, I think there is a case to be made that as long as jobs hold up, consumer spending could increase. When the shouldnt-be-homeowners who all bought houses beyond their means these past few years lose their houses and go back to renting and living with roommates/parents, they might actually have more disposable income since they won’t be spending as much of their monthly income on their mortgage and maintaining their home.

Just a theory. The way this downturn is playing out is really strange so far.

[austinkid]

Perversely, I think there is a case to be made that as long as jobs hold up, consumer spending could increase. When the shouldnt-be-homeowners who all bought houses beyond their means these past few years lose their houses and go back to renting and living with roommates/parents, they might actually have more disposable income since they won’t be spending as much of their monthly income on their mortgage and maintaining their home.

Just a theory. The way this downturn is playing out is really strange so far.

[austinkid]

Perversely, I think there is a case to be made that as long as jobs hold up, consumer spending could increase. When the shouldnt-be-homeowners who all bought houses beyond their means these past few years lose their houses and go back to renting and living with roommates/parents, they might actually have more disposable income since they won’t be spending as much of their monthly income on their mortgage and maintaining their home.

Just a theory. The way this downturn is playing out is really strange so far.

[austinkid]

Perversely, I think there is a case to be made that as long as jobs hold up, consumer spending could increase. When the shouldnt-be-homeowners who all bought houses beyond their means these past few years lose their houses and go back to renting and living with roommates/parents, they might actually have more disposable income since they won’t be spending as much of their monthly income on their mortgage and maintaining their home.

Just a theory. The way this downturn is playing out is really strange so far.

[austinkid]

Perversely, I think there is a case to be made that as long as jobs hold up, consumer spending could increase. When the shouldnt-be-homeowners who all bought houses beyond their means these past few years lose their houses and go back to renting and living with roommates/parents, they might actually have more disposable income since they won’t be spending as much of their monthly income on their mortgage and maintaining their home.

Just a theory. The way this downturn is playing out is really strange so far.

[34f3f3f]

Putting aside the technical definition of a ‘recession’ which always seems like a contradiction in terms to me (negative growth), there are other indicators that things are not normal. Without going into the obvious housing market correction, that I respectfully disagree will remain unaffected in the higher tiers, gas prices have led to a fourfold increase in the use of Metrolink in LA, and scooters are sprouting up like mushrooms. The first people to feel the pinch are usually small retailers, and a friendly “how’s business?” is often a useful barometer.

I agree that if you didn’t watch the news, you may be forgiven for thinking everything seems hunky dory, but there’s probably a case to argue that the affects of some recessions are not felt until there almost over.

[34f3f3f]

Putting aside the technical definition of a ‘recession’ which always seems like a contradiction in terms to me (negative growth), there are other indicators that things are not normal. Without going into the obvious housing market correction, that I respectfully disagree will remain unaffected in the higher tiers, gas prices have led to a fourfold increase in the use of Metrolink in LA, and scooters are sprouting up like mushrooms. The first people to feel the pinch are usually small retailers, and a friendly “how’s business?” is often a useful barometer.

I agree that if you didn’t watch the news, you may be forgiven for thinking everything seems hunky dory, but there’s probably a case to argue that the affects of some recessions are not felt until there almost over.

[34f3f3f]

Putting aside the technical definition of a ‘recession’ which always seems like a contradiction in terms to me (negative growth), there are other indicators that things are not normal. Without going into the obvious housing market correction, that I respectfully disagree will remain unaffected in the higher tiers, gas prices have led to a fourfold increase in the use of Metrolink in LA, and scooters are sprouting up like mushrooms. The first people to feel the pinch are usually small retailers, and a friendly “how’s business?” is often a useful barometer.

I agree that if you didn’t watch the news, you may be forgiven for thinking everything seems hunky dory, but there’s probably a case to argue that the affects of some recessions are not felt until there almost over.

[34f3f3f]

Putting aside the technical definition of a ‘recession’ which always seems like a contradiction in terms to me (negative growth), there are other indicators that things are not normal. Without going into the obvious housing market correction, that I respectfully disagree will remain unaffected in the higher tiers, gas prices have led to a fourfold increase in the use of Metrolink in LA, and scooters are sprouting up like mushrooms. The first people to feel the pinch are usually small retailers, and a friendly “how’s business?” is often a useful barometer.

I agree that if you didn’t watch the news, you may be forgiven for thinking everything seems hunky dory, but there’s probably a case to argue that the affects of some recessions are not felt until there almost over.

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