How is the Seattle Economy Doing?
This thread is just an open space to put what you notice about the local economy, as well as your own speculation as to what it means. This is a NO FACT zone. So make observations, make assumptions and entertain.
Examples:
Are stores you frequent more or less busy?
Are people at Starbucks opting for drip coffees instead of mocha frapachinos?
Is traffic lighter than normal?
Finally, for this post, forget about housing. We just want to know if the almighty consumer is still consuming at a reckless pace!
Examples:
Are stores you frequent more or less busy?
Are people at Starbucks opting for drip coffees instead of mocha frapachinos?
Is traffic lighter than normal?
Finally, for this post, forget about housing. We just want to know if the almighty consumer is still consuming at a reckless pace!
Comments
http://www.forbes.com/business/2007/07/ ... tates.html
Forbes = Meh
Besides, I think you are skirting the question. Bell Square is busy with construction, but is it busy with buying?
I was hoping to get some observations from people either about their shopping experiences, or even better from people who work in retail. Although, it's possible that real-estate is so far out of reach for anyone who works retail, that they don't even frequent this blog.
On the other hand, I had to visit 4 restaurants/bars in Fremont on hothothot Wednesday before finding a place I could get served in a timely fashion. Nobody had any interest in turning on an oven, I would guess.
As someone who works in commercial real estate for a living, I can tell you that Seattle has hit a peak in lease rates and will begin to trend downward beginning in late 2008 (When a number of new buildings are finally completed). Although that is not the "canary in the coal mine" for the economy, that is where my industry is going.
The low vacancy rates discussed previously are simply a matter of short supply of quality office space, not increased demand or business growth, coupled with low lease rates (hangover from Dot-bomb). Of course you have the Expedia and Microsoft leases, but that is a different world...
As for retail,etc. I haven't noticed any slowdown in the stores I go to on a somewhat regular basis.
First to go in my book?
Lowering of car payments, insurance, or rent/mortgage. Last time I checked Detroit's car capital of the world wasn't doing so well.