So, where are the bargains?

rollhead · January-30th-2009, 05:32 PM

I've been seeing news stories in the paper and on TV that demand for goods has fallen through the floor, and goods are piling up ... so where are the bargains?

http://www.nytimes.com/2009/01/31/bu...31econ.html?em

Pete C · January-30th-2009, 06:05 PM

Quote:

Originally Posted by rollhead

I've been seeing news stories in the paper and on TV that demand for goods has fallen through the floor, and goods are piling up ... so where are the bargains?

Have you seen the kinds of sales and clearances the department stores are running?

Uli · January-30th-2009, 06:24 PM

Have you checked the stock market, Rollie?

tippy · January-30th-2009, 06:53 PM

Prices are dropping. It’s not really a good thing and places will be going out of business so you’ll have more clearance sales. My lunches have dropped approx. $1. Junior’s has lowered it’s prices on its baked goods. I don’t know about the whole cakes but their slices and cookies are 45 cents less. Organic lettuce dropped $1 awhile back at my grocery though other prices I have noticed are still the same at the grocery.

Hold on, it’s going to be a wild ride. I will be shocked if I am still employed two months, maybe even a month from now.

Gary Sisco · January-30th-2009, 06:58 PM

I can sell you some cheap bridges, hey.

Dr Dave · January-30th-2009, 07:39 PM

Note from the luxury suite:

I have a friend (stockbroker, natch) who wanted to rent a house in the Caribbean for a group of friends. He found a place that was listed for $3,000 a week, called the owners and said he couldn't afford that, what would they take, and they knocked $1,000 off immediately.

Gary Sisco · January-30th-2009, 07:44 PM

I saw a new car lot today with a huge sign that said "W-2 = Downpayment."

Is anyone going to learn that this kind of idiocy is one of the primary causes of the financial crash? Duh?

What, so anyone who has a job can therefore afford a new automobile?

Scott Dolan · January-30th-2009, 09:28 PM

Quote:

Originally Posted by Gary Sisco

Is anyone going to learn that this kind of idiocy is one of the primary causes of the financial crash? Duh?

Who's going to teach them? Our Government who is getting ready to whip out the credit card again?

rollhead · January-31st-2009, 12:34 AM

Where is my cheap flat panel TV? Damn things are still too expensive.

rollhead · January-31st-2009, 12:35 AM

Quote:

Originally Posted by Uli

Have you checked the stock market, Rollie?

I am still dollar cost averaging. If we don't get out of this recession within the decade, I am toast.

Scott Dolan · January-31st-2009, 01:33 AM

Quote:

Originally Posted by rollhead

Where is my cheap flat panel TV? Damn things are still too expensive.

Werd

hornplayer · January-31st-2009, 04:51 AM

Quote:

Originally Posted by rollhead

I've been seeing news stories in the paper and on TV that demand for goods has fallen through the floor, and goods are piling up ... so where are the bargains?

http://www.nytimes.com/2009/01/31/bu...31econ.html?em

The bargains are everywhere, but where are the buyers?

scared out of their socks, and holding onto whatever pennies they have, I tell you!

Gary Sisco · January-31st-2009, 11:44 AM

What choice do we/they have?

I somehow have to find a dayjob in this mess *and* take care of Bronwyn (23/7 here, so far) and the animals. Damned sure isn't any gadget buying in that picture and won't be for a goodly while.

Chazro · January-31st-2009, 02:35 PM

You've probably heard the car commercial saying if you buy a new car and lose your job you can return it! Another one, more in line with the the theme, was a car dealership advertising; buy one - get one free! I shit you not.

The "bargains" are coming!

Gary Sisco · January-31st-2009, 03:05 PM

Years ago the land trust in Burlington offered me a house. I told them I didn't have a downpayment nor could I afford to own a home on my income, was about 25k at the time. They told me I didn't have to have a downpayment and my mortgage payments wouldn't be much different than what I was paying for rent at the time. I asked them if they were mad. What happens when I need a new furnace all of a sudden. Or a roof. Or insurance. Or fueling a whole house in Vermont winters. Etc.

I had no way of knowing that what I was seeing was a first little ripple of what has since become a tidal wave of financial idiocy and insanity. I just thought they were fools.

And for all that's happened recently, I'm still getting "pre-approved" credit card offers every week in the mail, though I haven't a job or an income.

They're either stupid on a historical level or mad on one or both.

jesus marion joseph · January-31st-2009, 04:54 PM

Quote:

Originally Posted by Gary Sisco

And for all that's happened recently, I'm still getting "pre-approved" credit card offers every week in the mail, though I haven't a job or an income.

They're either stupid on a historical level or mad on one or both.

Well, now that it's more difficult for you to file chapter 7 bankruptcy, they figure they'll get you on the hook.

steve(thelil) · January-31st-2009, 05:05 PM

I don't think when they send you an offer and say you're pre-approved it means that they will definitely approve you. The words mean it, but the people who are making the offer are full of shit.

jazzy mary · January-31st-2009, 05:47 PM

Well, it is a good time to refinance a mortgage. Interest rates are really low. This will be the last re-fi I will ever have to do on my house--4.5%

Gary Sisco · January-31st-2009, 05:56 PM

Quote:

Originally Posted by steve(thelil)

I don't think when they send you an offer and say you're pre-approved it means that they will definitely approve you. The words mean it, but the people who are making the offer are full of shit.

Think again, Steve. When we moved, I went to a local bank to open a simple checking account for paying bills. Took me an hour and a half. They kept trying to get me to add this and add that and the other thing "services." I kept saying, Look I want a checking account. That's all. Guy had already been told I didn't have a job or an income. He says, "Well, we can give you an 11k line of credit. You don't have to use it if you don't want to, but we'll fix you up with a card anyway." I shit you not. No job, no income, 11k line of credit. I only had 8k when I *was* employed and had an income! Go figure.

steve(thelil) · January-31st-2009, 05:59 PM

Quote:

Originally Posted by Gary Sisco

Think again, Steve. When we moved, I went to a local bank to open a simple checking account for paying bills. Took me an hour and a half. They kept trying to get me to add this and add that and the other thing "services." I kept saying, Look I want a checking account. That's all. Guy had already been told I didn't have a job or an income. He says, "Well, we can give you an 11k line of credit. You don't have to use it if you don't want to, but we'll fix you up with a card anyway." I shit you not. No job, no income, 11k line of credit. I only had 8k when I *was* employed and had an income! Go figure.

Some lenders may be that way, but i know that some people who have gotten "pre-approved" credit card offers have then been turned down for lack of income.

Gary Sisco · January-31st-2009, 06:02 PM

Quote:

Originally Posted by jesus marion joseph

Well, now that it's more difficult for you to file chapter 7 bankruptcy, they figure they'll get you on the hook.

Some maybe. Another part of my credit card story. They did actually send me a card with an 11k line and zero interest til March 3rd. A couple of days later my regular card kept getting denied. So, I call up customer disservice at Citi to see what's up. They tell me I'm late with a payment. I'm like, So what? That's how you make money. How you going to make any money if everyone pays up on time? Supervisor says when you pay we'll turn it back on. We're not talking huge amounts, here, just expenses from relocating and I hadn't caught up on writing out bills, yet. I had no history at all of burning them or anyone else. So, I told the supervisor, Well, see what's going to happennow is I'm going to put that debt on another card with zero interest, so you'll get paid but you won't get the interest; another company will. Supervisor gets all pissed off. Too bad. I did do the switch, that night, over the telephone. I've sinced paid all of the moving expense debt off at no interest and we're caught back up to date.

Gary Sisco · January-31st-2009, 06:02 PM

Quote:

Originally Posted by steve(thelil)

Some lenders may be that way, but i know that some people who have gotten "pre-approved" credit card offers have then been turned down for lack of income.

Clearly not enough!

Gary Sisco · January-31st-2009, 06:07 PM

Meanwhile ... There are six homes for sale in our neighborhood. The median neighborhood price is 72k. Three of the six had already been for sale when we bought ours this past September. Things is mighty tight when a house and yard won't sell for that kind of money. Hell, in VT, even in the present conditions, what we paid for our house here in Lexington wouldn't buy a trailer or even a place to put one. Houses don't get anymore affordable than this.

rollhead · February-1st-2009, 11:32 AM

Let me know when a decent 37"-40" LCD flat panel drop below $500, then maybe I will start shopping. Especially if the "stimulus package" gives me an incentive to do so.

Gary Sisco · February-1st-2009, 11:46 AM

Keep hoping.

walto · February-1st-2009, 11:56 AM

I just bought a "returned" vacuum cleaner on Ebay this morning. I've gotten a bunch of bargains there and on craigslist. Stuff that's, you know, "fallen off the truck."

Gary Sisco · February-1st-2009, 12:26 PM

Article in the local daily says house prices in Lexington have fallen in double-digit percent over the last year. Median price for a house in the county is only 157k and change, but of course, this being the horse capital of the world that figure includes many high end, which makes the drop even more significant. Hey, get one while you can!

We'd have never been able to afford to buy a place outright anywhere I know of in the US for what we paid here.

No landlord, no mortgage, babeeezzz.

claude · February-2nd-2009, 09:07 AM

Quote:

Originally Posted by rollhead

Let me know when a decent 37"-40" LCD flat panel drop below $500, then maybe I will start shopping. Especially if the "stimulus package" gives me an incentive to do so.

I saw an LG 42" LCD flat panel for $800 cdn which equates to $647 in US dollars at todays exchange rate.

steve(thelil) · February-2nd-2009, 10:37 AM

Amazon has the Coby TFTV1514 LCD TV for only $161.

It's only 15", but that's 105 in dog inches.

tippy · February-2nd-2009, 10:43 AM

Compounded insulin just went up.