Second Homes and New Cars? Nation’s Affluent Could Have Unique Buying Power in 2009

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If you believe Paul Taylor — that a rebound in the auto industry is tied to a rebound in housing — then lower prices and higher inventory might create a huge lifestyle upgrade opportunity for many affluent. The Wall Street Journal reported recently that luxury auto makers are finding tough times. While gated communities and luxury lifestyle may become slightly more affordable, there may never be such a thing as a discount private community. Perhaps the affluent have the most to gain by spending in these two sectors. They traditionally have cherished lifestyle buys like cars and second homes, and now might be the time to “buy low” so the economy can enjoy the shot in the arm it needs.