Let’s Go Shopping! 10 Things To Buy In This Economic Recession

by The Smarter Wallet on April 20, 2009

Let’s go shopping!

Oh yeah, so let’s take a break from griping about the recession for a moment to try to look at the good side of this slowdown for a change. Prices have fallen drastically for many items — the very items that we could only fantasize about some years ago. Now, many of these previously high-priced items are within our reach! Let’s check out some of them shall we? Time.com has offered us an interesting list of what stuff we should consider buying right now, while prices are down. Are you ready to buy low?

Image by Star Tribune

Let’s Go Shopping! Things To Buy In This Economic Recession

1. Stocks

The U.S. stock indexes have suffered a massive haircut over the last year or two. As the contrarians say, it’s time to buy when fear governs the markets. So much of the stock market has been heavily discounted and if I were you and had the extra money available to invest for the long term, you can bet I’d be investing my funds into the indexes right about now.

2. Fancy Clothes

Apparently, reports are out that the cashmere industry is being hit hard by the recession. It may be time to back up the truck and up your demand for cashmere sweaters, a well-known luxurious clothing item, as well as other fancy get ups. Also, price cuts are not predicted to last beyond this year, so check up on these items while they last! Some retailers are offering up to 75% off the expensive outfits. To get cash back rewards for any purchases you make from popular retailers, place your orders through Ebates! For more on how Ebates works, check out this Ebates review.

3. Computer Memory

If you visit places like BestBuy.com, Buy.com, Sony.com, NewEgg.com and so forth, you may notice that prices are way down for computer components and memory devices. No surprise, given the current glut of computer chips we’re seeing as consumers clamp down on their spending. These days, you can upgrade your computer’s memory for 30% of what past prices used to be, but once the economy picks up, expect prices to come back to normal. I’d upgrade my old computers now if I were you! You can visit Dell and HP for price breaks on your favorite gadgets and computer items. And check out our computer shopping tips first before you shell out the bucks.

4. Digital Cameras

Digital cameras are seeing prices at a low right now. Now if you want to get the best prices and the right camera for your needs, check out this great shopping tool called BestInClass.com. Based on criteria you provide, they recommend the best camera for you; it’s a great comparison tool you can use to hone in on the right camera pick. Discounts in the gadget world are steep, running between 30% to 45% off a lot of popular models.

5. Stuff for Your House

With the real estate market having gone south, it has also taken down the home design and furniture stores along with it. Furniture chains like Linens N’ Things have filed for bankruptcy during this downtrend. So if you’re looking for fresh towels and bedspreads, you may want to stock up now! Savings have been in the 50% to 70% range but if you’re familiar with the home furnishings market (as I am), it’s pretty cyclical and you may already be used to these price cuts.

6. Mmmm….Good Food! Lobster Anyone?

I love lobster. I consider it my favorite seafood, and apparently, lobster prices have crumbled between 30% to 50% from what they usually are. If that’s the case, I’m ordering second helpings! Here’s what you’ll see at grocery stores these days: $13.99 a pound instead of the usual $20 a pound. Soft shell crabs are also half price. So get your fill before the economy rebounds!

7. New Cars

It’s a buyer’s market for cars right now — with the auto industry in shambles, you can bet that new cars are sitting on many a car lot out there, begging to be bought. Consumers now have the leverage here, with so much oversupply and a weak market. Plus, Obama’s stimulus plan has a provision for new car buyers: those who buy new vehicles will be permitted to deduct sales or excise taxes from their tax returns. Encouraging news, for those thinking to get a new set of wheels.

8. Travel

The airline industry reports that domestic flights are now 9% lower in price than they were just last year, while international flights have been discounted by 6.5%. Pricing for cruises are cheaper by 20%. For even bigger deals, check out Expedia deals and Travelocity’s savings promotions to get the best prices.

9. Country Club Membership

Typically, memberships to exclusive country clubs can run tens of thousands of dollars a year (or more). But with the recession, these luxury enclaves are hurting. These days, some private clubs have been advertising on the radio (gasp!) for new members, and have gone as far as to waive the initial membership fee, their monthly spending minimums and the need for sponsors to get you in. We regular folk can now get a taste of the good life!

10. Real Estate

Finally, I have said this before and I’ll say it again: it’s time to buy that house! First time buyers may be eligible for a hefty tax break — all of $8,000 if they purchase a primary residence within this calendar year (until December 1). Plus, as you can see in some parts of the United States, there are bargain homes that are going for a song. If you’ve been saving up for a home, you may want to start shopping around at this time.

So all you buyers out there, now’s a good time to open your wallets and help give the economy a nudge. But spend wisely! There are a lot of awesome deals to be had right now.

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