Industries that fell the hardest may see the biggest rebound

— -- Cars

New vehicle sales were down to about 13 million in 2008, a drop of more than 18% from 2007. But while you can keep wearing the same suits, at some point, you have to replace a vehicle.

Auto researcher R.L. Polk estimates the average age of cars hit a record high of 9.4 years last year. In the 12 months leading up to July 2007, more than 13.6 million vehicles were scrapped.

"Many people will get to the point where the cost of repairs on their current vehicle is greater than they think is worth investing, and they'll be looking for a new or newer vehicle," says Paul Taylor of the National Automobile Dealers Association. "We expect a stronger performance in the second half of the year."

Along with a 12-year-old truck, Helen Ward of Poolesville, Md., says she and her husband now have to replace the engine in a vehicle that they're still making payments on. They hope to buy an engine from a junkyard.

Appliances

At Sears, which held a huge Memorial Day weekend appliance sale, home appliances President Doug Moore is banking on discounts, pent-up demand and the appeal of energy-efficient models. Federal rebates for energy-friendly models, expected soon, should boost sales.

"People do need to have a refrigerator, washer and dryer," Moore says. The life expectancy of most appliances is seven to 10 years.

Jeff Myers, 68, of Phoenix is hoping to save money by spending money, but only after the economy improves.

The retiree is supporting himself through Social Security and investments and is waiting for a stock rebound to "release some of my pent-up demand." Then he'll be able to think about replacing his 10-year-old car and 30-year-old central air-conditioning unit, which he says has "an energy efficiency of about zero."

He only uses it in the summer, opting for an evaporative cooler the rest of the year.

Furniture

"Scores" of furniture store owners have complained to Furniture Today editor-in-chief Ray Allegrezza that consumers are simply too scared to shop.