We've all said in the recent months that the Sub-Prime meltdown has caused ripple affects that go beyond just the foreclosure market and home sales.  My landscaper is hurting for business, my flooring and painter is in the same boat.  Cities and Counties are losing out on property taxes causing reductions in many city services.  But today, news of some of the ripple affects came in the form of furniture store closings.  Not just Ma and Pa stores, but throughout the entire furniture industry including major furniture retailers.

It was announced today that furniture giant Levitz Furniture will be closing ALL of it's stores nationwide after being in business for nearly a century.  Sales have dropped and the slowing housing market has hurt them severely.  If you don't have a new house, you're not going to buy a bunch of stuff to put in it.  And that includes furniture.  Wickes Furniture also filed for bankruptcy citing the reasons as record gas prices, record foreclosure rates and the slowing housing market.

But there's always a flip side.  If you aren't buying a home, you may want to go ahead and upgrade that old ratty couch or armchair with a new sofa or recliner.  There'll be big closeout and sale prices at a furniture store near you!