I go back and forth.
I was born in '71, so the recession of the early 90s was my first "adult" experience. It was pretty scary at that point--in my early 20s--going to restaurants to apply for waitressing jobs and there being hundreds of people there. Some in 3 piece suits with briefcases! But, even though the construction dried up and things were kind of tight....there didn't seem to be the SCALE of this.
And vice versa, while there is such a big collapse going on on Wall St. and at the "upper levels," it doesn't seem like it's really "hit" where I am....yet.
I know that construction has dried up in DC/NoVa again. And I thank my lucky stars every day that we got out of there when we did. We're still getting lots and lots of work here (further south of DC), but bracing for the inevitable.
The only thing that is keeping me sane is how frugal we've gotten in the past years. But I'm definitely worried about our income.
I like the idea of a "correction." I think we've needed that for a looooong time. The extravagance of electronics and cars and accessories and home goods has been crazy in the past couple decades. The coffee and bottled water thing is so bizarre. Anyone remember what 7-11s and rest stops used to look like back in the 70s?
We just didn't LIVE like this. Now it's our norm. And we just can't afford it.
Ha! I feel like an old person!
"When I was young......." But it's true. Movies and out to eat was RARE. Movies were in the theaters for months. You couldn't go so much if you wanted to. You ate out on special occasions--not every week. Cell phones, iphones, ipods, home computers, home fax machines, shoot....answering machines! All that stuff is so new. And expensive. It adds up. And we've all (mostly) got it. And if it breaks, we simply go get another one. Like it's just a necessity. They weren't necessities a few years ago, you know? And they probably won't be in a few more.
We'll swing back to the other side and find our balance. But, it's going to be different, that's for sure.