Since the financial crisis was fully unleashed last September, the ripple effects have taken their time when it comes to reaching Jordanian shores. But nevertheless, they have. While the macro-economic situation is an assessment I leave to the so-called experts, I turn my attention to Jordan’s population of youth. Ironically, this evolving economic dilemma is on the tip of most tongues, especially young Jordanians, regardless of their demographics. The conversation manifests itself in different ways but it is evident, and in this particular scenario, my definition of “youth” is based on those going through the 20-something “transition years” – the movement from teenagers and undergraduate students, to full-fledged, working adults.
The transition years are typically defined by various elements including employment and marriage. Hence, to me, it would only make sense that these transitional youth might be the most impacted population during this crisis.
So, based on observation, what’s happened thus far?
Prices have gone down. Gas is more affordable. Goods are a tad more affordable. So are services – to an extent. Real estate is cheaper, whether one is renting or buying. At the same time, there seems to be a flood of vacated places either left behind by departing Iraqis or simply the overflow of supply in a time of little demand. Amman has dropped from its last year’s rank of the 42nd most expensive city in the world, to the 105th in January 2009. Last month alone, housing prices dropped by 9% compared to last year.
What emerges, theoretically, is an environment ripe for marriage and many young 20-something year olds, especially those from a middle class background (by Jordanian definitions), are moving, even if they’re just fresh graduates. The fear that this is a moment of financial opportunity for some is becoming more evident, and so is the fear that the window will be closing in two years time.
Interestingly enough, while prices have gone down, there are no assurances.
Banks are not loaning money and I’ve heard one or two stories lately where fathers are selling land in order to have liquid cash on hand for a summer wedding. And as the banks dry up, employees are fearful of losing their jobs. While many places are still hiring, others are on the cusp of firing. Everyone is cutting costs. That’s the explanation.
So the dilemma emerges. Yes, things are cheaper. Yes, it’s more affordable to get married. But, bank loans, which tend to fund most marriages in some shape or form these days, are out of the question. And sustaining a job is also suspect.
In other words, while marriage may be a bit more affordable in Jordan these days, I’m wondering how attainable it is.
As always, the best indicator for such an observation will be the magnitude of car horns, fireworks and sporadic gun fire ringing through the city come summer time.
“As always, the best indicator for such an observation will be the magnitude of car horns, firewroks and sporadic gun fire ringing through the city come summer time.”
well, when that was happening almost every summer night even during the worst of financial crises in the country, last two summers?, what will make it different this summer? yeah, parents have been and still will chip in and whatever 3ailit flaaan is used to extravagant weddings will continue to do the same for the rest of their “boys” because, e7mm, social class hypocrisy matters the most in Jordan, mostly noticed in Amman… for God’s sake, weddings these days look like stories and scenes taken out from Alf Laiyla wa Laiyla, aka A Thousand and One Nights, one of your flicr pictures right in front of me at the moment reflects that scene i’m trying to describe… no, i disagree. weddings will continue as always and anyways, with or without the broader financial crisis in the country…. in Jordan, weddings, or i mean the number of summer weddings, aren’t indicators of this change you’re describing at all.
Nas
Welcome back, we missed you here in the blogosphere…So let me get this straight…. you disappeared and then came back to tell us about marriage during the financial crisis… is there anything you would like to share with us?
secratea: the last sentence was meant mostly as a joke to tell you the truth, but in jordan, you can never really tell. all observations are based on some sort of indicator, no matter how ludicrous it might sound 😉
madas: hmm…well i didn’t have anything in mind when writing it. but perhaps on a subconscious level im secretly reflecting something internal and your comment has just got me to analyze that carefully.
so how about it? wanna get hitched?
p.s. im broke.
Heh-heh, Madas’ thought was mine as well. To the word. 🙂 So Madas, why not? What a great team!
Could this be the Jordanian blogosphere’s first on-line proposal? 😉
Wow, this is getting interesting! I look forward to the continuing story. Seriously, InshAllah your naseeb is right around the corner, financial crisis or not. Allah knows best.
“Could this be the Jordanian blogosphere first on-line propsal?”
“Wow, this is getting interesting! I look forward to the continuing story.”
“all observations are based on some sort of indicator, no matter how ludicrous it may sound”
wow! Good Luck!
Get married before you’re 30, Nas. You won’t regret it!
I know a nice gal…
After residing in the UK for 25 yrs and attending many weddings and comparing them to weddings here I think it’s absolutely ridiculous the amount of money people spend here…
I am at work now, but when I have time I will write my rather funny experiences whe shopping around for my wedding………absolutely crazy
Hey, Nas, do you know where these decreasing rents are? We’ve done some looking and I’m sure not seeing them in any of the convenient areas to me :(.
Oh, and congratulations on your beginning the thought process. Marriage is a beautiful institution.
Nas
think of Amro bin Rabee3a
Øدثونا أنها لي Ù†Ùثت عقدًا ØŒ يا Øبذا تلك العÙقد
كلما قلت: متى ميعادنا؟ ضØكت ” هند ” وقالت: بعد غد
🙂
yazan: please do write that up!
mommabean: west amman mostly
madas: sigh.
“To-morrow, and to-morrow, and to-morrow…” – Macbeth
youuuu WOULD get married on a blog.
lol