One hat that I wear is owner, with my oldest son, of the Banana Boat Co. We sold a new single engine 24 banana boat a couple of weeks ago to a cash buyer. He probably would have bought bigger boat with twins in better times, but he is part of a group of people who still have money and don't want the hassle of buying a used boat, car or whatever.
My company is unique as we don't have any overhead to speak of and only sell when we feel the buyer understands the value of what he is getting, the heritage etc. We don't need to sell to make payroll and our reputation has carried us by word of mouth for many years.
My other hat is, I am Chariman of the Board of a small regional bank (Assets under 1 billion) and I see that there is still a lot of money around and there are still many people who haven't invested in the stock market and are not suffering due to the drop of the Dow.
I agree that things will get worse before they get better, but the shakeout is affecting the guys who pretended they had the money, but it was all borrowed. There are still a lot of buyers who have the cash and are being conservative but are still buying what they want.