Quote:
Originally Posted by CliffFletcher
Yep. Lease rates were set for a crazy boom when patrons gushed discretionary spending. That's not hapening anymore, but the lease rates haven't fallen fast and far enough.
And you would think prices would start coming down at some point. It should be getting cheaper to hire people than it was during the boom. Of course, the minimum wage legislation could throw a spanner in that natural adjustment.
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I'd say that we won't be seeing any price adjustment in favour of the consumer side moving forward. I've noticed that over the past 6 months, pretty much every dish at a restaurant (that isn't a Denny's) starts at 15-16 dollars now (and averages about 17-19 dollars) and pretty much every "fast food" restaurant has combos that hover at the $10 mark in the city. Which is a pretty noticable change since last year.