Everything Must Go
May 5th, 2008 | by Mike G |
If you can accurately use Craigslist or eBay as a barometer financial well-being across the US, things aren’t looking so great. According to the AP, many of the listings are followed by "plaintive notices, like the one from the teenager in Georgia who said her mother lost her job and pleaded, ‘Please buy anything you can to help out.’"
It’s no longer shocking to say that Americans are having a trouble handling their debt. Personal bankruptcies are up nearly50% than this time last year, and according to the GAO, American household consumer debt averages $11,840.00
To meet higher gas, food and prescription drug bills, they are selling off heirlooms, mementos and personal items.
At Craigslist, the number of for-sale listings has soared 70 percent since last July. In March, the number of listings more than doubled to almost 15 million from the year-ago period, and the tone of some of those listings is growing desperate. People who are short on cash are selling their belongings at bargain prices, with a flood of listings in recent months, particularly since January. The three of the four fastest growing markets for used items are directly tied to the price of gas: campers and trailers, cars and trucks, and boats
