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Sale of safes up since last year, as confidence in banks declines

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In the midst of ongoing financial hardship, the sale of safes are on the rise, SmartMoney Magazine reported.

Sale of safes up since last year, as confidence in banks declines (Photo courtesy of rpongsaj via Flickr)

Even though U.S. burglary rates are down, manufacturers and retailers are reporting sale increases of safes by nearly 40 percent from just a few years ago. Since that time, safes have also changed their image—literally. They are no longer just a cube, but rather, are now being customized to look like furniture.

Also helping fuel the sale of safes: Americans’ lack of confidence in the banking system. A Gallup poll last year showed that a record number of Americans, 36 percent, said they had “very little” or “no” confidence in U.S. banks, SmartMoney reported.

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