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They have an article called Five Things to Buy Before The Economy improves. Yahoo's syndicated this.
The article.
At the top of the list: housing. This may be the best time in a generation to buy a home. According to the S&P/Case-Shiller U.S. National Home Price Index, fourth-quarter 2008 prices were down 25% from the four quarter of 2006. The stimulus bill Congress passed in February includes an $8,000 credit for first-time home buyers. According to bankrate.com, average interest rates are beginning to dip below 5% for a 30-year, fixed-rate mortgage.
More good news for consumers: Automakers had a miserable 2008. Auto demand is down by approximately 33% since October and dealers have excess inventory backing up and bills coming due. It's a good time to buy.
Incentives from manufacturers have "probably never been as strong as they are today," says John McEleney, a multi-franchise auto dealer and chairman of the National Auto Dealers Association. If you've got good credit, you can expect 0% financing and cash rebates as high as $6,000.
Another deal? Diamonds. Anyone in the market for a something sparkly will find prices down 14%, on average, since their highs in mid-2008, according to Ken Gassman of the Jewelry Research Institute. Gassman says more expensive diamonds have seen even greater drops. A pristine 4-carat diamond that went for $70,000 per carat is now selling for $51,700 per carat--a 26% discount.
Houses, cars and diamonds are the last things I'm thinking about buying. I don't want to buy anything unless I absolutely need it. Do I live on another planet or something?
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No, you don't live on another planet. They do. Buying diamonds isn't an everyday occurrence for the average person. Give me a break, Forbes. Your readers aren't going to be struggling.
A good point, greenmachine. I'd stake my life on Forbes readers being well-to-do professional couples. You're not seeing what's happening in the real world if you think the average wage earner wants to take on more debt. It might be a bargain, but you still need to finance the purchase.
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I'd be hoarding every penny, not spending it at the moment because however bad it is now, it's going to keep getting worse. Did you see the jobless report? A 25 year high. I hate to say it but desperation is going to set in and things will be sold not just by companies but ordinary people at far less than their value.
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Everything's dropping in value. I think trying to guess when the bottom's in and when we're on the rebound back up is a fool's game. I'd sooner pay slightly more for something when economic recovery was confirmed than buy something cheaper now that ends up almost worthless before this is all over.
No, you don't live on another planet. They do. Buying diamonds isn't an everyday occurrence for the average person. Give me a break, Forbes. Your readers aren't going to be struggling.
Show me your garden and I shall tell you what you are. - Alfred Austin