Published on 28 Mar 2024 on The El Paso Times via Yahoo Finance
El Paso pawn shop knows something about economy that Biden doesn't: Times are still tough
EL PASO, Texas – Clay Baron has everything in his pawn shop from gold rings and pearl necklaces to vintage cowboy boots, silver belt buckles, stereos and ticking clocks.
The only thing he's short on is space. “Right now we have a glut of inventory,” Baron said, “which tells me that our clientele doesn't necessarily have money.”
Accumulating pawn shop inventory means fewer buyers than sellers – a sign that for the lowest-income Americans, times remain tough.