The FT today reports that the current economic climate has brought back the vintage look.
The Paper reports that as winter is carrying on,  the  “new nostalgia” look has evidently struck on the catwalk, where designers seek to evoke the certainties of the past amid shifting economic times. Designers aim to design clothes that do not break budgets and are multipurpose, like classic dresses and suits. Fashion buyers say customers will be taken back to the fashion that prevailed in the depression era of the 1930s and 1940s.

In the US the economic climate reportedly already showed earlier last year, when  US catwalks featured fashion reminiscent of the depression era.
The December issue of the American Vogue focused on how to be stylish in a difficult economic climate, with Editor Wintour  challenging designers to produce credit-crunch-friendly party dresses.

The prevailing vintage trend should be good news though for online vintage sites, such as designer vintage.com or the closet bureau.