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http://www.pasadenastarnews.com/news/ci_8835176Shops lend in times of need
Struggling economy hits home as people sell, pawn property By Bethania Palma, Staff Writer Article Launched: 04/06/2008 11:11:16 PM PDT
MONROVIA - Pawnshop owners like Monrovia Mayor Rob Hammond are noticing the return of a regular harbinger of bad economic times - more white-collar workers in their stores. Higher gas costs, lost jobs and other economic pressures are squeezing people higher up the economic ladder, owners said.
"We've been seeing more white-collar workers in the past six months," Hammond said. "There are two major reasons I'm hearing right now - one is the high cost of gas ... and we're hearing from more and more people that their hours were cut or their jobs were eliminated."
Pawnshops are always busy, Hammond added, but lately, they're even busier. According to the staff at the family-owned West Covina Pawn, every day has been exceptionally busy since the economy started to tank.
A constant stream of customers crowded the store last week, hoping to get cash for their valuables, including jewelry and antique gold coins. Most said they needed the money to pay bills.
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