Word: thrifting
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...Tree in Portland, Ore., that the store closed down one Saturday for lack of merchandise. At the flea market on the grounds of Miami's Tropicaire Drive-In Theater, stalls are booked an unprecedented two weeks in advance. The latest trend in shopping, apparently, is the shift to thrift...
Business at flea markets and thrift shops has doubled, and even tripled, in recent months. At so-called "resale" shops (where the owner and the stores usually split the sale price), customers are streaming in not only to buy goods but to place clothes and furniture of their own on consignment. Much of the secondhand spirit stems directly from the recession. Explains Jane Kulian of the Salvation Army's Red Shield Store in Evanston, Ill.: "Many of our customers are people out of work." Adds Nancy Webster, owner of Nancy's Resale Shoppe in Dallas: "Loads of people...
Some of the bargain hunters could well afford to shop in regular stores, but they have discovered that secondhand can be chic. Says one thrift-shop regular: "My husband is a doctor and we have a maid, so obviously I am not forced to buy in thrift shops. I find it fun. The atmosphere is much friendlier. Everybody is in it together." Mrs. Lee Campbell, who runs Fig Leaf in Arlington, Texas, agrees. "They're bringing in their friends now," she says. "Once, they may not have wanted anyone to know exactly where they found the bargain." Ruth Pollitz...
Ideas for Help. Many conferees expected the annual rate of housing starts to fall below 1 million by year's end, from 1.3 million now and 2 million in 1973. One reason: thrift institutions (savings and loan associations and savings banks), which do the bulk of mortgage lending, lost $2.5 billion in deposits from April through August, the largest for any comparable period. Despite Cenker's jest, commercial banks are not yet hurting, but they could be if they have to start foreclosing some of the $10 billion in loans that they have made to real estate investment...
...return to the policy of allowing thrift institutions to pay more interest than commercial banks on term deposits. Since the policy was dropped in July 1973, S and L deposits have shrunk 43%, and savings-bank deposits...