There you're right, luxury item manufacturers/dealers are the first to go. People will buy what they need in hard times, and hold onto luxury items longer. If they do buy, they'll seek serious deals on them, and tend to buy used rather than new.
Compounding the issue is that people who start hurting tend to put their luxuries up for sale first, generally at a good price. So the guy that is still planning to buy has hundreds to choose from at firesale prices.
Ken.
Compounding the issue is that people who start hurting tend to put their luxuries up for sale first, generally at a good price. So the guy that is still planning to buy has hundreds to choose from at firesale prices.
Ken.