The Effects of the Recession in my Life

637 Words3 Pages
The Wall Street meltdown has deeply affected Main Street. Unfortunately, I am part of “Main Street”. This economic crisis has affected the middle class. In my particular case, having my business on stand by, being obligated to trade in my truck, and not being able to keep paying off debt have been the three main effects of the nation’s economic crisis in my life. The first effect is having my business on stand by. I have been a proud business owner for the last 5 years. My business, Charry Bros, LLC, is a painting and general contracting company, which makes it part of the construction industry. One, if not the most, of the main affected industries is the construction industry. It is important to understand that everything is co-related. When the crisis started, the real estate companies took a hit with a significant decrease in sales. However, it took about six months before builders had to cut back in new construction houses. This is about when I started to feel the effects. I had to lay off a couple of my employees. Soon, builders completely stopped building new houses. As a result, I had to reduce my company’s size from 15 employees to only two; my brother and myself. For a couple of months I was optimistic about a market recovery; however, it did not happen. As a result, I had to get a job to be able to pay my bills. Now, my company has become my part-time job. Another effect that the economic crisis has had in my life is being obligated to trade in my truck. I had a beautiful Nissan Titan truck; it had alloy wheels, chromed accessories, and a powerful engine. It was my dream car, no doubt about it. However, my dream car became my nightmare car. When gas prices started going up, it took more money to fill up the tank. Before, I used to spend about $45 dollars to fill up the tank, but as soon as gas prices went up I started to spend about $90 dollars. I could

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