David Rosenberg says this is Must Read.

The idea that the American family will quickly spend us out of this recession is a fantasy.

In this article, WSJ profiles an Idaho family:

"We never go downtown anymore," says Mrs. Capp.

From the archive:

KRAMER: It's a whole different world downtown-- different Gap, different Tower Records, and she's a 646.
ELAINE: What? What is that?
JERRY: That's the new area code. They've run out of 212s, so all the new numbers are 646.
ELAINE: I was a 718 when I first moved here. I cried every night.

Also:

"I think you need to have a downtown that's hip and cool and that people really want to come to," he said.

From a few years ago:

"It's getting very chic down there."

It's gotten very chic almost everywhere in Manhattan.

And from just a few months ago:

“I wish I could go down there more,” said Ms. Clark.

The WSJ also profiles another family. The mother observes:

"Not many people know eggs freeze."

A parting thought:

"People loved comedies during the depression, too," said R. J. Cutler, executive producer of "Flip That House."

He's referring to GDI, but he's thinking about GDII.

Hard-Hit Families Finally Start Saving, Aggravating Nation's Economic Woes