Housing and Retail Black Friday
Not that people don’t know already, but let’s just throw the question out there. What is Black Friday? Stores drop their prices for 24 hours the day after Thanksgiving for people to get some great deals on Christmas presents. The ads for each store participating in the event, come out a few weeks in advance to Black Friday. A lot of stores will open around the same time, early in the morning, and some deals only last a few hours with limited quantity. Consumers do great research at each store, making lists of what they will be going after and putting together a game plan on how to get all the items. It is known that there are people who completely skip Thanksgiving dinner to camp out in front of a store, making sure they are one of the first few in line. Cops stand outside of stores the whole time and extra employees are on duty, just to handle all of the crazy fights that break out. Now, some stores will open later Thanksgiving evening, starting deals that night to try getting more profit. Most people in America have Thanksgiving and the day after off work, so it is spent shopping for friends and family. Other countries have adapted to the Black Friday holiday now, they hold their own Black Friday that lasts a day and some a week.
Where did black Friday get its name and how did it start?
It is said that the name “Black Friday” came about in 2 different ways. One way is that the stores see this as the day they are put in the black for the rest of the year due to profits. The other way comes from Philadelphia, stores put out sales and shoppers flocked to them, as well as the Army/Navy football game on Saturday. Officers were required to work 12-hour shifts trying to control all the crazy people on the roads and sidewalks, they would refer to the day as “Black Friday!” After staying Philadelphia’s little inside joke for many years, it finally caught on around the nation in the 1990’s.
Real Estate Black Friday
Yes, crazy enough, Real Estate has their own “Black Friday!” You will most likely find the best deals in August to buy a home, people are trying to settle in a place before the Fall and Winter seasons set in, as well as kids getting ready for school to start. There is roughly 13.9% of the listings that will have cut their prices for August, come December, that percentage drops down to 8.3%. This is a little harder to be accurate with areas of all around warm weather, for example: Florida, California, and Nevada. Their prices stay steady year-round, as to colder areas like: Connecticut, New York, and Wisconsin.