Good News: The "Yard Sale Economy" is Booming!
October 28, 2008 by Sean Kelly
Filed under Business
As people are losing their homes and need a place to liquidate their stuff, experts say the “Yard Sale Economy” is booming.
According to a UPI story: “Sociologists say the garage-sale economy is flourishing across the United States as the financial crisis deepens and more people lose their homes.
“This is the perfect storm for garage sales,” said Gregg Kettles, a professor at Loyola Law School in Los Angeles who studies consumers and outdoor commerce. “We’re coming off a 20-year boom in which consumers filled ever-bigger houses. Now people need cash because of the bust.”
This is no time for sentimentality, says the UPI story. Gramps better not leave his upper plate on the nightstand while he sleeps. Princess better chain up the trike and hide the key from Mom.
“That’s because many people need cash and no longer can afford to be sentimental, said Beatriz Duarte of Manteca, who sold her 3-year-old daughter’s tricycle to a stranger for $3 even as her daughter was riding it.”
I bet for an extra $20, Beatriz woulda thrown in the kid as well. It’s a lovely time for bargain shopping!
WHAT DO YOU THINK? SHARE A COMMENT BELOW.
photo source: FranBest.com
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Selling your stuff at a garage/yard/tag sale is far more influenced by weather than by the economy. Selling your daughters tricylcle for $3.00 isn’t going to help anyone pay their mortgage, but it will make it more likely to fit their car in their garage. There is no doubt an increase in selling your items online though, as most people have found it is a better place to unload higher dollar items faster regardless of the outside temperature.