I came across this USA Today story regarding Main Street and the recession. USA Today went to five different Main Streets to see how they were faring in the challenging economic times of the day. This first city was Pheonix, and the prospects appeared daunting - development has stopped, credit has dried up, the housing market has burst and consumer spending is in decline.
The recession will be felt on Main Street and in our downtowns for reasons similar to why it is being felt nation-wide. Financing is harder to obtain for urban projects, and this obviously will make it tougher for redevelopment to take place - this is particularly painful for larger projects that need more funding. Consumer spending is declining and consumers are saving more to make up for dwindling revenue and a loss in their retirement accounts
For more information, check out these articles:
http://www.courier-journal.com/apps/pbcs.dll/article?AID=2008812100438
http://www.paloaltoonline.com/news/show_story.php?id=9871
http://www.courier-journal.com/article/20081207/BUSINESS/812070374/1003/ARCHIVES
Tuesday, December 16, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment