There are statistical and anecdotal signs that an economic recovery may be underway. That does not mean we should all go back to the debt-happy spendthrift ways we once embraced. Many expect the recovery to be slow and a bit lethargic. Jobs and easy credit may remain hard to come by for a while. But if recovery is around the corner, some strategies, like buying bonds and waiting for home prices to keep dropping, may not work going forward. Here’s how to get ready for the next economic phase:
Jump on the deals you really want. The Cash for Clunkers car rebate program expires Nov. 1. The tax deduction for sales and excise taxes on a new car expires Dec. 31. The $8,000 refundable tax credit for first-time home buyers expires Dec. 1.
Watch your local market. If you need a house or a home loan, think local. In some parts of the country, housing prices seem to have bottomed out. While nobody’s expecting a wild climb, inventories are falling and it’s a good time to start shopping. The same is true of mortgages; community …
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