Leading Economic Indicators: Rolls-Royces Lurking Around On Alternate-Side Parking Days
You’d think that garaging your Porsche in Manhattan was a fairly inelastic expenditure. Not these days:
Posted: October 18th, 2009 | Filed under: Follow The Money, ManhattanGarage managers in the swanky 10021 ZIP code say the recession has driven away customers, and it’s little wonder with monthly fees hitting $800 or more. An extra $100 is often tacked on for exotic cars.
Rolls-Royce owner Jonathan Martin said he’s fed up with paying about $500 a month for the privilege of parking and recently started searching for free spaces with the masses.
“The garage rates keep going up around here,” he said.