Bargain houses largely unsold
Courthouse-step auctions offer 1,336 properties in foreclosure -- 17 are sold
modbee.com
As housing continues a meltdown, consumer goods cost more and unemployment rises, those who make a living cooking and serving others say they're feeling the impact.
In the past few months, one restaurant after another has ceased operations: Mallard's, Acapulco Restaurant, 15-O-Five, Wanderlust Coffee Co. and Semplicita Coffee House.
Although the reasons they closed differed, observers noted that real estate's downturn as well as higher food and fuel prices have negative effects on everyone's bottom line.
In downtown Modesto, Harvest Moon owner Mark Smallwood said his restaurant still is seeing sales growth, but not as much as in other years.
"We're not seeing the mortgage brokers and the real estate representatives," Smallwood said. "But we're above last year."
A server at Vito's Restaurant, which opened about four months ago in a downtown Modesto spot formerly occupied by Nosh and Oceana, said lunchtimes have been busy.
"From 12 to 1 every day, we have a full restaurant," said server Chris Kleiber, who added that to bring in customers, Vito's offers a discount to city and county workers.
modbee.com |
