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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Les H who wrote (217291)8/25/2009 10:55:51 AM
From: Les HRead Replies (1) of 306849
 
The Cash for Clunkers program could depress sales of other goods. Most consumers have only so much money to spend, especially in a recession. And while the rebates lower the cost of a new car, buyers are still adding a sizable new payment to their monthly budget. Purdue University retail expert Richard Feinberg estimates that the average clunker-upgrader takes on an extra $400 in monthly car payments, which could divert $1.5 billion from elsewhere in the retail economy. "After suffering from the worst holiday sales season since 1970," he says, "retailers will be facing an even more dismal 2009, in part because of the cash for clunkers program." So the overall effect on the economy could be nothing more than a shift from one kind of retail spending to another.

shoppertrak.com
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