by jlw61 » Tue 15 Jul 2008, 13:07:49
$this->bbcode_second_pass_quote('harpbook', 'I') wouldn't say I'm at the front lines of anything, but I run a rare book and art business in an affluent area about 2 hours east of NYC. Here are my impressions. Business is as strong as ever, if not stronger. My wealthy clients have not stopped buying, and my everyday customers are still doing their part. Furthermore, retail shops in my area are thriving and business is still strong. Home prices have decreased (but not tanked) and I get the sense that contractors may be hurting a bit, but you must remember that for the last 10 years there has been an unmitigated boom. So any slowdown must be seen in the light that people have done very well for a long time. My house cost about $450,000 in 2002. It was appraised at almost twice that in 2007. I have no doubt that I'd have a hard time selling for the highest price, but I could sell my house tomorrow for $650,000.
People are of course talking about the economic slowdown, but at least in this area there has been little actual fallout, yet.
By the way, I started reading this site about 6 weeks ago, and I have learned a tremendous amount about PO and how it relates to the economy and the world. Thanks.
Well, I would expect an affluent area to feel the affects last, however, being a book dealer may be a plus. I've seen a tremendous increase of customers at libraries and book stores.
Books are something that can not be replaced. Especially in a powerdown society.
When somebody makes a statement you don't understand, don't tell him he's crazy. Ask him what he means. -- Otto Harkaman, Space Viking