Friday, February 20, 2009
A Sign that the Economy is Recovering?
We're all looking for a sign, any sign, that the economy might be starting to recover. Are people spending more? No. Is the stock market doing well? No. Are home foreclosure rates going down? Not yet...but they might be.
Builders are building less new properties, which is actually a good thing. This could create a domino effect of sorts. When builders build less, buyers will buy foreclosed homes or homes that are in danger of being foreclosed upon. This will be a small, tiny, minute spark that could be a step in the right direction. When there are less foreclosed properties on the market, these homeowners can move on with their lives, banks can breathe a sigh of relief, we won't have to bail them out, and they'll also be spending money again.
It might not be a major sign, but it's a small sign of hope, even though the results of this happening may not be visible for months.