Las Vegas Pawn Businesses Have Noticed Rise in Consumers Seeking Quick Cash Due to Inflation

TheNevadaGlobeStaff

2 years ago

Categories: 702Times

Las Vegas Pawn Businesses Have Noticed Rise in Consumers Seeking Quick Cash Due to Inflation

Many expensive golden and silver jewerly rings, earrings and necklaces with big amount of US dollar bills on white background. Pawnshop or jewerly shop concept

Las Vegas Pawn Businesses Have Noticed a Rise in Consumers Seeking Quick Cash Due to Inflation.

Author: Nevada Globe Staff

LAS VEGAS – Las Vegas pawn businesses have noticed a rise in consumers seeking quick cash due to inflation.

Pawn shops say they are a “bellwether” of the economy because more individuals want to sell belongings or get loans in difficult times.

Rick Harrison of “Pawn Stars” and Gold and Silver Pawn told FOX News last month that inflation harms the average working class.

“Middle America’s crushing them,” Harrison added. Some have pawned wedding bands and other priceless belongings in challenging times for basic needs.

Max Pawn sees how inflation affects those with money. Since the economic change, loan demand has risen, said owner Michael Mack. “A man brings a Ferrari and we lent him money so his two kids could attend private school. Mack hears similar experiences from other families as school starts.

The pawn shop offers 90-day loans on high-end items; if buyers can’t return them, the store sells them.

Credits: Fox5Vegas