by Cyrus » Tue 02 Dec 2008, 01:07:59
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I already started seeing this back in '05. I was running a garden center out in one of our suburbs..not affluent, but not considered "poor" either, bordering those suburbs that are considered affluent.
Many that shopped from the affluent communities didn't blink an eye about spending money for what they wanted. However, those in that community were very frugal with what they were spending, and hardly bought anything, even vegetable plants!
They were happy to see me, though, and hoped for better days. Many related to me, (seniors) that they were splitting pills, or selling extra medication on ebay (back then, I don't know if you can do this now.) if they had it to spare, for the extra cash.
They told me "we are struggling here!" and I felt their hopelessness, of being in a collar county that maybe didn't "do" as much as the City of Chicago/Cook County could have done to help them.
They had nice houses, big lot sizes, and were only about 2-3 generations away from having all that land in Apple orchards. I met some old timers that did have the apple orchards, they were in their mid-to-upper 80's.
I told them about Peak Oil back then, and they didn't laugh at me, they knew hard times were going to come down, although back then, it didn't quite show at the gas pumps.
They must really be feeling the pinch now. Many of the stores will be going bankrupt soon, out in those malls. A lot of those smaller overbuilt strip malls they were so eager to build just sat their with their "development" signs on them.
I'm happier for it, that's good land, good Illinois soil, black gold, good for making orchards again.
Blu
Good to see an somefrom from the Ill state here! Defitely hear you about the shopping devlopments that are built and sit empty. There are literally dozens in the Naperville area. Even the well established shopping centers have over 50% occupany rate.