Hi gang! I do this periodically and it is time once again for my list of things that people will still really need in our current economic Depression:
1. Shelter – People, even if they are out of work, don’t have a lot in savings or have lost their home will still need somewhere to stay indoors. If you are planning on buying apartment buildings, while I wouldn’t go completely out on a limb and say this is the time to do it, you may want to start looking at properties if you have the cash, the wherewithall to be an apartment owner and don’t mind listening to people’s complaints when the heat goes out or if the water doesn’t refill the toilet fast enough. You may also, if you are comfortable enough with it, consider taking in people to rent a room but I would advise you only do that if you are capable of being able to evict them if things go bad for them. Make sure you run credit checks prior to renting them a room.
2. Food – If you are in the food manufacturing business or service business people will still be eating. A lot of people will be going with inexpensive fast food as well since they can’t afford a lot. McDonald’s restaurants did a decent business last quarter so that should be an indicator of the fact that tired, stressed parents would rather spend money on Happy (or perhaps UnHappy) Meals than go home and cook for the kids.
3. Clothing – Despite images of Depression era people in potato sacks and barrels, people will need comfortable clothes at affordable prices. If they live in cold or wet climates they will need to dress accordingly there.
4. Transportation – Depending on where you live, you and others will need a car or some sort of rapid transportation system like a bus, train or shuttle. That means that people will need to have support services where they can maintain these transportation systems. Tires will need changing, batteries will need replacing and rails will need to have upkeep.
5. Protection – With the increasing unemployment and people stressing out, classes in self-defense and sales of weapons (license permitting) will probably rise. Look for security systems for home and apartments to do well in continued sales.
Keep this stuff in mind for investing or for looking for employment.
Good luck and talk with you later!
Oh, and Happy Real Abraham Lincoln’s Birthday.
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Things People Will Still REALLY Need In the Depression
Tags: Business, depression, economic depression
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