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THURSDAY, NOVEMBER 26, 2009
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Everything Must Go: Hard Times Create Yard Sale Boom

'Thrift economy' thriving as households struggle to meet mortgage payments

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(Newser) – Yard sales are on the rise nationwide as the economy heads for the cellar, the New York Times reports. Flyers for sales cover lampposts in formerly booming communities as struggling homeowners seek to raise cash from selling off all the non-essentials—even children's toys. Many of the bargain-hunters are in equally dire straits themselves.

"You can get great deals,” said one shopper. "Sad to say … Because everybody’s losing their homes.” So big is the current boom in yard sales that some communities have restricted the number of sales a household can have per year. But experts say that with all the goods Americans accumulated during the 20-year-boom, the deals won't end any time soon.

The 'thrift economy,' including yard sales and Goodwill stores, is booming as Americans find their budgets stretched.
The 'thrift economy,' including yard sales and Goodwill stores, is booming as Americans find their budgets stretched.   (©elisfanclub)
Some communities have begun limiting the number of yard sales a household can have per year.
Some communities have begun limiting the number of yard sales a household can have per year.   (©frankh)
Jobless householders struggling to meet mortgage payments are selling everything they can.
Jobless householders struggling to meet mortgage payments are selling everything they can.   (©elisfanclub)
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This is the perfect storm for garage sales. We’re coming off a 20-year boom in which consumers filled ever-bigger houses. Now people need cash because of the bust. - Gregg Kettles, a visiting professor at Loyola Law School in Los Angeles who studies outdoor commerce

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