I own a hair salon. Typically, November is my busiest season. It has been SO quiet. A lot of my colleagues are also saying the same thing and have had to close up shop because of it - or get a second job.
People keep saying it will get better and the economy will bounce back but I don’t know. I am so close from just throwing in the towel, closing up shop and getting a corporate gig.
The amount of people that didn’t understand what an adjustable interest rate are is higher than you think.
Also, I suspect that many people failed to realize how much higher interest rates would affect them, in terms of expenses edging up due to initial costs and the impact of compounding. We tend to consider costs in isolation.