The state of the economy at the street level

[againsthegrain]

I was in the city yesterday for work and went out for dinner afterwards.

As far as I can tell Sydney is pumping.

the media are running a campaign of articles which say otherwise

https://www.news.com.au/finance/bus...d/news-story/da6d1e2e9f802233e2bf058ae1df7f68

Im in Melbourne so can't say, but here alot of food places are closed permanently. Good locations are still busy but you take a turn into the side street of a main road and its dead where previously was open

 

[InsvestoBoy]

the media are running a campaign of articles which say otherwise

https://www.news.com.au/finance/bus...d/news-story/da6d1e2e9f802233e2bf058ae1df7f68

Im in Melbourne so can't say, but here alot of food places are closed permanently. Good locations are still busy but you take a turn into the side street of a main road and its dead where previously was open

Thanks for sharing that interesting article.

This is a pretty interesting quote

It’s a situation Business Sydney executive director Paul Nicolaou is all too familiar with, explaining to news.com.au that it was a “sad” sight walking through Sydney’s CBD on Mondays and Fridays post-Covid.

“Tuesdays, Wednesdays and Thursdays are manic but you don’t see a lot of people on Mondays and Fridays,” he said.

Monday I guess I could easily believe because it's a an easy day to work from home for those who can, and on consideration that would be an immediate 20% reduction in cashflows for business owners relying on the office worker crowd.

I actually wondered to myself, will it be quiet on a Friday?

Wynyard Station was bustling when I got off the train at ~9:45AM and there was a normal 5-10 crowd of people getting their breakfast at the maccas like me.

At ~12:30PM we walked from the office near Apple store on George St down to Chinese restaurant fav Chef's Gallery right next to Town Hall station, past the Galeries, QVB, Pitt St Arcade, etc there were so many people walking around!

Went for an early dinner at Yayoi in Pitt St Mall and nearly all the tables were as full as I remember them being.

Walked the entire length of the city down to Central and back to Town Hall after dinner talking with a friend and it was pretty busy, lots of people.

Train home was decently full for a 9PM ride out of the city on a Friday night.

 

[SirRumpole]

the media are running a campaign of articles which say otherwise

https://www.news.com.au/finance/bus...d/news-story/da6d1e2e9f802233e2bf058ae1df7f68

Im in Melbourne so can't say, but here alot of food places are closed permanently. Good locations are still busy but you take a turn into the side street of a main road and its dead where previously was open

"“Energy bills are going up, the cost of food and beverages is going up, and they are struggling to find staff,” he said.

I'd say the consumers are having the same problem with rising costs which is why they are not spending as much.

Mondays and Fridays are probably work from home days, because "who likes Monday" anyway ? and Friday is an excuse to nip off for the weekend.

 

[divs4ever]

A friend of mine is in the hospital after emergency surgery, so for the first time in months I ventured out of my area, caught the train to Newtown Station and walked to Royal Prince Alfred via King Street.

Lots of new shops catering to consumption (food, bars, icecream etc) since I used to live in the area.

Lots of people walking around and eating and drinking, especially for a Sunday night.

Definitely gave me the urge to buy stocks.

very different here ( Brisbane-Gold Coast corridor )

more small shops closing ( completely ) if anything is increasing it is security cameras ( household AND at the shopping malls )

normally plenty of spaces in the car parks ( but i do go off-peak ) but the petrol station is being renovated so only one third of the pumps available

now i am not sure it is a good sign , but used syringes on the street are rare ( but there is a smattering of tiny lock-top bags around , and they do not look like a coin collector has discarded them carelessly )

had to resist shopping in the kitchen utensils section ( they don't look very durable ) ( the hardware store left about four years back )

 

[InsvestoBoy]

but used syringes on the street are rare ( but there is a smattering of tiny lock-top bags around , and they do not look like a coin collector has discarded them carelessly )

it's for meth ?‍

 

[Dona Ferentes]

it's for meth ?‍

What's the going price?

 

[InsvestoBoy]

What's the going price?

Looks like the price has not been immune to its own inflation https://www.aic.gov.au/publications/sb/sb32

 

[moXJO]

Thanks for sharing that interesting article.

This is a pretty interesting quote


Monday I guess I could easily believe because it's a an easy day to work from home for those who can, and on consideration that would be an immediate 20% reduction in cashflows for business owners relying on the office worker crowd.

I actually wondered to myself, will it be quiet on a Friday?

Wynyard Station was bustling when I got off the train at ~9:45AM and there was a normal 5-10 crowd of people getting their breakfast at the maccas like me.

At ~12:30PM we walked from the office near Apple store on George St down to Chinese restaurant fav Chef's Gallery right next to Town Hall station, past the Galeries, QVB, Pitt St Arcade, etc there were so many people walking around!

Went for an early dinner at Yayoi in Pitt St Mall and nearly all the tables were as full as I remember them being.

Walked the entire length of the city down to Central and back to Town Hall after dinner talking with a friend and it was pretty busy, lots of people.

Train home was decently full for a 9PM ride out of the city on a Friday night.

Restaurants are packed. Not sure much else is doing business?

I've discussed it with a few people and most comments is their fridges aren't as stocked and they are too lazy to make food.
It's also the social element of eating out amongst people. That being chosen as the spend of the week.

 

[Smurf1976]

For my nearest shopping centre it seems to be doing well. Plenty of empty shops two years ago but mostly filled now and there's plenty of people around.

Just my observation locally, all seems to be doing OK at the moment.

 

[rcw1]

What's the going price?

why do you want to buy some ???

Kind regards
rcw1

 

[rcw1]

Restaurants are packed. Not sure much else is doing business?

I've discussed it with a few people and most comments is their fridges aren't as stocked and they are too lazy to make food.
It's also the social element of eating out amongst people. That being chosen as the spend of the week.

Good evening moXJO
100% spot on.
Do believe though, international and domestic tourists have added another very real positive dimension to the hospitality industry.

Have a very nice Sunday.

Kind regards
rcw1

 

[InsvestoBoy]

Restaurants are packed. Not sure much else is doing business?

It's Sydney, we already murdered the rest of the local culture compared to Melbourne long before COVID, what's left but eating?

 

[againsthegrain]

It's Sydney, we already murdered the rest of the local culture compared to Melbourne long before COVID, what's left but eating?

meth? ?‍ ?

 

[divs4ever]

it's for meth ?‍

that sounds a bit high class for here ( despite recent sales of $1.2 mil for homes in the suburb )

besides it is close to a major hospital , there should be better stuff leaking from there ( out the side door )

 

[divs4ever]

For my nearest shopping centre it seems to be doing well. Plenty of empty shops two years ago but mostly filled now and there's plenty of people around.

Just my observation locally, all seems to be doing OK at the moment.

or you have got preppers ( trying to use that cash while it still buys something )

 

[divs4ever]

Looks like the price has not been immune to its own inflation https://www.aic.gov.au/publications/sb/sb32

well they did weed out the competition , once you have monopolies and duopolies , that is what happens

 

[InsvestoBoy]

that sounds a bit high class for here ( despite recent sales of $1.2 mil for homes in the suburb )

You might be thinking of cocaine.

 

[divs4ever]

i am thinking over 60% of the homes in the street with multiple external security cameras , hints at something less than peaceful is happening

you know the saying 'when seconds count , the police are minutes away ' ??

well here they took 8 hours ( but at least they sent a scientific team ) which wasn't so bad footage from 8 different homes was ready and waiting for them .. seemed to have missed the memo on the results , maybe the insurer has that

no sniffer dogs though , maybe it was over-worked elsewhere ( or still finding little bags up the street )

but ain't no recession in QLD ( maybe it's depression )

 

[againsthegrain]

In my street every house has cameras because break ins and house invasions are up. Once 1 or 2 houses get broken into basically the whole street gets cameras. They are cheap now not how it was in the 90s.

On an other note going round Melbourne I do notice alot more homeless poping up. Always a tent here and there in the city and on main streets around inner city.

 

[sptrawler]

What's the going price?

I asked someone I know well, how much does somone on meths spend, he said about $600/ day.
If they can get the funds.