Last time I was in Phoenix & Scottsdale, where I have to admit there are some really great restaurants, I noticed two things:
1. The restaurants were pretty dead. Nearly empty.
2. The food wasn't as good as I'd remembered, presumably because they're being forced to use cheaper and therefore lower quality supplies.
Now the AZ Republic reports sharp rises in Arizona restaurant prices due to the upward swing of food costs. In a Valley where the restaurant business is already reeling from the collapse of the fake real estate economy and no more HELOC cash, do they have any chance of surviving at all? Will the Valley's remaining good restaurants close and leave a bland, faceless mass of fast food garbage in its place?
I have a lot of friends in the restaurant industry (used to work in it myself!) and while it has slowed down somewhat, people are still going out to eat. I live in Phoenix, and while I don't go out as much as I used to, I still go out a few times per week.
Gas prices are the real problem, not the housing market.
I think the Phoenix market has bottomed out, evident in how fast foreclosed homes are getting snatched up. I have a friend who is trying to buy a foreclosure, but every time she puts down a bid finds herself in a bidding war. The market went up too quickly - but price these houses right and they will move. I hate to disappoint you, but this is not the end of Phoenix or Scottsdale.
Posted by: John | April 27, 2008 at 01:49 AM
Frank,
Thought you might like this:
TOP TEN REASONS NOT TO MOVE TO AZ
Of course, there are literally dozens of reasons not to or even consider moving to Arizona. For some reason though, people keep on coming without even thinking about the potential consequences. Maybe this list will make just one person think twice before making a move which he or she will come to regret every single day. Feel free to add your reasons for not relocating to Arizona below.
10. Traffic Cameras - the Valley is absolutely littered with traffic cameras, whether it be radar cameras or red light cameras or a combination of the two. Driving in Arizona is a disaster as it is, but you constantly got to be on the look out for speed traps, mobile radar vans, or lights that could be moments from going red. How many other states do you know that generate the majority of their revenue from speed traps and poorly timed traffic signals?
9. Overcrowded - there is already far too many people packed into the Valley. Everyone who moves here just adds one more car on the road, more pollution, and increased commute times for everyone. Do you really want to be surrounded by traffic and smog as well?
8. Culture - what culture? The majority of Arizona residents spend their days and nights getting black out drunk. There’s not much else going on. Enough said.
7. The people - liars, thieves, illegals, con-artists, white trash, felons, 30k millionaires, fakes, and everyone else who moved here hoping to blend in. Arizona is filled with a number of low class individuals, and it shows in every aspect of day-to-day life. The people here are generally rude, arrogant, unfriendly, and not even worth dealing with.
6. Weather - temperatures well over 100 degrees for at least 4 months of the year. Is there really any other way to put it?
5. Traffic - not only is the traffic terrible, but Arizona boasts some of the worst drivers in the country. The Valley is so spread out that you are forced to drive anywhere and everywhere. Don’t forget - somewhere around 40% of Arizona’s drivers are uninsured.
4. Schools - Arizona public schools consistently rank just about dead last in every ranking done across the country. These schools are under-funded, over-crowded, and teachers are underpaid. More on Arizona schools later.
3. Crime - the crime in Arizona is continually getting worse and absolutely nothing is being done about it. Don’t forget that pulling over the guy for going 5 miles over the speed limit is more important than catching the real criminals who will rob you at gunpoint or break into your house while you are there.
2. Job Market - everyone always says there are plenty of jobs across the Valley. That is, if you want to work in a call center or sell used cars or work for the fast food industry. There are very few corporate, white-collar positions in the Valley and this will not be changing anytime soon.
1. Economy - let’s face it Arizona’s economy is sinking, and sinking fast. Arizona’s economy was almost solely tied to the real estate market and with that crashing down, what is everyone going to do? The recent housing crash will end up affecting every Valley resident for years to come and then some. Unlike most areas, Arizona has nothing to fall back on and who really knows what will become of the Valley and its people in the coming years.
Posted by: Blinky | April 28, 2008 at 09:33 AM
Eddie Vs at DC Ranch in North Scottsdale has a happy hour between hours 4-7 PM, when appetizers are 50% off and wine $1 off per glass.As familiar with this restaurant for years, the past few months have notice a packed to capacity scene at the bar during these hours, while the dining room is sparsely populated.
It seems that the Scottsdale fakes are trying to get by with discounted eats and drinks while keeping up appearances as they gradually slide into steep financial strain. That HELOC money has dried up and the payments are due.
Next week,planning to head out to Mastro's and check out that "look-at-me", freak show.
Posted by: raven | April 28, 2008 at 11:56 AM
That's pretty funny ... we'd been there a few times a couple of years ago with my girlfriend's relatives who live in Troon. It was always pretty mellow during happy hour (we went there because they have the same food as Wildfish, which we love, but is a low-class madhouse at happy hour since it's in downtown).
I'm not the least bit surprised that they pack into the bar for discounts then desert it come 7pm.
Have fun at Mastro's ... Drinkwater's City Hall is a better alternative since the crowd is mostly upscale visitors from the Phoenician and Biltmore (the concierges at those hotels recommend Drinkwater's) and it's refreshing to see men in suits & ties and women in tasteful dresses for a change instead of the men in Tommy Bahama shirts and freakshow plastic women with fake breasts spilling out at the north Scottsdale Mastro's location. At least in the dining room ... the bar at Drinkwater's can get tacky later on and is notorious for hookers.
Posted by: Frank Rumbauskas | April 28, 2008 at 12:31 PM
Frank, I'm sorry isn't it notrious for real estate agents? Oh, I'm sorry that would be one in the same. Just depends on who is buying what. Either way the "John" gets screwed!
Posted by: Small Hat | April 29, 2008 at 12:42 PM