The Economic Roundtable – Are We at the Bottom?
Reports from the field suggest we may have bottomed out from the worst recessionary cycle in the history of our Industry. While bidding activity cannot be characterized as robust reports suggest that business activity, at the very least, has stabilized. The recovery during this cycle will, from all reports, be “painfully slow” with levels of activity moving upward at a “snail’s” pace. We would be interested in hearing from our members if there appears to be any improvement in your area. Just blog your response by clicking here. Also of interest would be the type of occupancies being protected.
Hopefully we will begin to see some sustained growth, no matter how small, in the coming months.
What has stabalized?
The downward spiral? That’s only because the Federal government has bankrupted this country through massive “bailout” programs.
Wait until the federal spending slows, then that black hole that may be off the radar screen now will appear once more, sucking in more people and businesses.
When you have entire states, such as Arizona, that are largely dependent upon home sales as the driving force of economic growth, and not a result of economic growth then our entire country suffers.
A significant percentage of homeowners are near foreclosure. Many will walk away from their homes, dumping them on the market.
Private investment will remain stiffled due to the government’s borrowing. The Wall Street Journal reported recently that Treasury’s are at a low, while their sales remain strong!
If our country continues down this government-driven economic “recovery” plan, we may remain in recession for years and eventually fail like Greece, Spain or nearly 30 other European countries that operated with a government-driven socialist economic system.