Earlie,
I rented a vacation home on the Oregon Coast for one week this summer. Two years ago I rented the same house (the most popular one this firm has) and at mid January when I called them, every summer week except one in late August was taken.
Last Friday I called again, so two weeks later than the previous time, and nearly the entire summer was open, including what most northwesterners consider the prime weeks of summer (end of July, start of August). Oddly, they had the audacity to raise their prices 5%, a move I think they will regret.
This downturn was not unexpected to me of course. Oregon has the highest unemployment in the US, with my State of Washington not far behind. Additionally, Oregon is about to lay off many state workers, and Portland is reducing its public school year by 24 days. Washington probably isn't far behind in retrenchment.
I think the States' curtailment will initiate the "other shoe" to drop on the consumer's head.
Another thing... shopping at the Bon Marche a week ago, the sales were incredible, and the shoppers sparce. The checkout lady pointed out other amazing deals and commented that when March rolls around and they simply MUST move that merchandise, it to be a madhouse. I might even go back to get a few things at 75% or more off at that time.
The tech job market is so poor that I hardly feel flush even though I still have my good tech job, and my wife (pharmacist) still has her highly employable position. Yet I know that if my job goes at the end of this year (always a possibility since we are on annual funding more or less) it could take some time to get re-employed. So I figure if people like us have cut back...
--Ben |
