Struggling economy hits home as people sell, pawn property

[El Pinko]

http://www.pasadenastarnews.com/news/ci_8835176


Shops lend in times of need

Struggling economy hits home as people sell, pawn property
By Bethania Palma, Staff Writer
Article Launched: 04/06/2008 11:11:16 PM PDT

MONROVIA - Pawnshop owners like Monrovia Mayor Rob Hammond are noticing the return of a regular harbinger of bad economic times - more white-collar workers in their stores. Higher gas costs, lost jobs and other economic pressures are squeezing people higher up the economic ladder, owners said.

"We've been seeing more white-collar workers in the past six months," Hammond said. "There are two major reasons I'm hearing right now - one is the high cost of gas ... and we're hearing from more and more people that their hours were cut or their jobs were eliminated."

Pawnshops are always busy, Hammond added, but lately, they're even busier. According to the staff at the family-owned West Covina Pawn, every day has been exceptionally busy since the economy started to tank.

A constant stream of customers crowded the store last week, hoping to get cash for their valuables, including jewelry and antique gold coins. Most said they needed the money to pay bills.

[snappyturtle]

1. So sad. What happens when the valuables to pawn are gone? n/t

[Quantess]

2. Then they have fewer things to schlep around at the homeless camp.

When all the useless heirlooms have been jettisoned, they can hop trains much more easily.

[snappyturtle]

3. I hope you're being sarcastic. n/t