The latest Dataquick numbers are out for southern California real estate sales, and the drop is mind-boggling. Check the following table:
More here from DQNews.
Coming on the back of Yahoo’s news today that ad spending in real estate and auto have dragged down that company’s sales, and Oracle’s news that it is seeing its fortunes improve, we have a truly consumer-led air pocket here. This will not be good news to the VC backers or founders of the many venture-backed companies out there flogging ad-based services to newly non-spending consumers
Things will improve, of course, and online ad spending is still far lower than it should be given the allocation of people’s time across different forms of media, but this is not a good time to be too closely yoked to consumer purchasing.