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KoKo

(84,711 posts) Sat Jun 16, 2012, 10:23 PM Jun 2012

THIS USED TO BE THE 10TH RICHEST SHOPPING STREET IN THE WORLD—Now Look At It!

THIS USED TO BE THE 10TH RICHEST SHOPPING STREET IN THE WORLD—Now Look At It

In 2007, the real estate firm Cushman & Wakefield said that Ermou Street in Athens was the 10th most expensive shopping street in the entire world.

It was right up there with 5th Avenue in New York, Ginza Road in Tokyo, and the Champs-Élysées in France.

The hotel I'm staying at in Athens is right off of Ermou Street, and had I not been told this, I would have never guessed it was ever at such a level.

The street is now filled with empty storefronts, empty stores, and a lot of graffiti that goes unattended to.

Taking a trip down Ermou Street is a great, quick way to see how fast and far the Greek economy has fallen.

Click here to tour Ermou Street >

Read more: http://www.businessinsider.com/ermou-street-in-athens-greece-2012-6?op=1#ixzz1y0shm3jk

6 replies

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THIS USED TO BE THE 10TH RICHEST SHOPPING STREET IN THE WORLD—Now Look At It! (Original Post) KoKo Jun 2012 OP

Sux wen ya gotta go to big box for dem fancee shooz Zanzoobar Jun 2012 #1

Where did all the job creators go? Kalidurga Jun 2012 #2

I hope this is not a sign of things to come? kentuck Jun 2012 #3

The demand side there is only slightly more choked off than Warpy Jun 2012 #4

Where are you? abelenkpe Jun 2012 #5

Here too, depending on the neighborhood. We have our share of resale stores mixed in. It's busy. freshwest Jun 2012 #6

Zanzoobar

(894 posts)

1. Sux wen ya gotta go to big box for dem fancee shooz

Reply to KoKo (Original post)

Sat Jun 16, 2012, 10:31 PM

Jun 2012

Kalidurga

(14,177 posts)

2. Where did all the job creators go?

Reply to KoKo (Original post)

Sat Jun 16, 2012, 11:02 PM

Jun 2012

I don't think we are that far behind if we are even behind at all.

kentuck

(111,111 posts)

3. I hope this is not a sign of things to come?

Reply to KoKo (Original post)

Sat Jun 16, 2012, 11:06 PM

Jun 2012

How can this not have a negative impact on their entire economy, even though the stores are mostly expensive luxury items?

Warpy

(111,480 posts)

4. The demand side there is only slightly more choked off than

Reply to KoKo (Original post)

Sat Jun 16, 2012, 11:19 PM

Jun 2012

the demand side here is. People are buying only if they absolutely need things and then they're not going to fancy places to buy whatever it is. Thrift shop and dollar store parking lots are always packed. Even Wally's seems to be losing their customer base. Malls are deserted on weekdays.

Our shopping malls and downtown streets will look just like this if the Republicans get in again. Maybe that has to happen for the lumpen to wake the hell up. I hope not.

abelenkpe

(9,933 posts)

5. Where are you?

Reply to Warpy (Reply #4)

Sat Jun 16, 2012, 11:40 PM

Jun 2012

Shopping malls are still packed in my neighborhood. (LA)

freshwest

(53,661 posts)

6. Here too, depending on the neighborhood. We have our share of resale stores mixed in. It's busy.

Reply to abelenkpe (Reply #5)

Sat Jun 16, 2012, 11:57 PM

Jun 2012

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