HOW is the ECONOMY where you live??? Want to get an accurate picture

[GoBabyGo]

from Main Street not the Wall St financial TV, that imho is lying through their teeth. Everyone I speak too is cutting down on expenses except for the basics, groceries and gas. No large purchases being made.



I see credit card debt, foreclosures and unemployment rising all around me on Long island, NY.



SMall Business owners complaining, especially pizzeria's who's flour and cheese prices have gone up about 4x this year alone.



Anyone else have a take in their area. Thanks in advance.

[Edwards Kings]

My zip code in Georgia is mainly corporate. I do not see lay-offs or other such indicators. We do not have the foreclosure issues that other places like Colorado have experienced. Then again, much of Georgia is unique. With Atlanta (communications and transportation hub), Savannah (perhaps the largest containerized cargo port on the lower eastern seaboard), big defense department presence (Kings Bay, Dobbins, Fort Stewart, Warner Robbins, et al), and healthy manufacturing (right to work state), Georgia can weather most economic "bumps".



Biggest issues are the credit crunch (not so much personal debt, but restrictions on capital development because the banks have pulled back because of their own STUPID prime-mortgage debacle) and energy prices.



It is amazing that the economy nation wide is doing as well as it is with $100+ light sweet crude prices and the tree-huggers keeping new refineries out as well as restricting the one, safe, true energy alternative out...nuclear!



[ April 08, 2008, 09:22 AM: Message edited by: Edwards Kings ]

[sportsbettingman]

Here in the Bay Area of CA, it was slow construction-wise (as usual from Christmas through Tax day...but the phone has been ringing pretty good, and the last three weeks have been better than steady.



Thank goodness we have lots of "old money" here. The US economy has less impact.



~Lance



[ April 08, 2008, 09:40 AM: Message edited by: sportsbettingman ]

[Edwards Kings]

Originally posted by sportsbettingman:

Here in the Bay Area of CA, it was slow construction-wise (as usual from Christmas through Tax day...but the phone has been ringing pretty good, and the last three weeks have been better than steady.



Thank goodness we have lots of "old money" here. The US economy has less impact.



~Lance Well, Lance, most of the rest of the US considers SF to be another planet with only a loose affiliation with the rest of the country anyway!



Seriously, glad business is picking up.

[King of Queens]

New York City's view of the rest of the country:



www.strangemaps.files.wordpress.com/200 ... yorker.jpg



[ April 08, 2008, 12:10 PM: Message edited by: King of Queens ]

[Edwards Kings]

Originally posted by King of Queens:

New York City's view of the rest of the country:



www.strangemaps.files.wordpress.com/200 ... yorker.jpg And rightfully so!



I have only been to NYC a few times, but loved it each time I went. The family (wife and two young teenagers) and I are thinking about going to NYC for at least part of the Christmas season.

[JKS]

Here in Las Vegas things are pretty bleak. I own a Real Estate Appraisal business and have seen property values drop 15-25% over the last year. When you drive down a residential street every 10th home is in foreclosure. Banks are willing to take huge losses in order to get out driving the market ever further into a state of panic. We have the #1 foreclosure rate or close to it. Gas is $4 per gallon and unemployment is climbing. My wife is a teacher who makes 40K per year and is required to pay for school supplies. I personally have to do almost twice the work I use to do in order to satisfy lenders, while appraisal management firms have taken over a portion of the business taking 30% of the appraisal fee. Not to mention what we all deal with in the stock market. I'm glad I don't care all that much about money, otherwise I might be looking for the closest rope and shower rod. I believe the worst problems are yet to come as the US has pretty much destroyed the dollar in the world market by the sub prime crisis, the war (if that's what you want to call it), and health care. Man, it's a good thing I can get lost in how many strike outs I can get from my middle relief guys.

[sportsbettingman]

Originally posted by JKS:

Here in Las Vegas things are pretty bleak. I own a Real Estate Appraisal business and have seen property values drop 15-25% over the last year. When you drive down a residential street every 10th home is in foreclosure. Banks are willing to take huge losses in order to get out driving the market ever further into a state of panic. We have the #1 foreclosure rate or close to it. Gas is $4 per gallon and unemployment is climbing. My wife is a teacher who makes 40K per year and is required to pay for school supplies. I personally have to do almost twice the work I use to do in order to satisfy lenders, while appraisal management firms have taken over a portion of the business taking 30% of the appraisal fee. Not to mention what we all deal with in the stock market. I'm glad I don't care all that much about money, otherwise I might be looking for the closest rope and shower rod. I believe the worst problems are yet to come as the US has pretty much destroyed the dollar in the world market by the sub prime crisis, the war (if that's what you want to call it), and health care. Man, it's a good thing I can get lost in how many strike outs I can get from my middle relief guys. Modern day Boom towns occured the past 7 years.



The correction is gonna hurt.



Buying a 300,000+ home on interest only with no money down was not very good for this country.



Good for the banks.



~Lance