How will the housing market will lead us out of the recession...in fact it has already begun to lead us in a positive direction.
The simple fact is that a boost in the housing market creates more jobs, which in turn decreases unemployment. If more people have jobs then more people will have expendable income to purchase items such as a home which is important for those looking to establish equity and reap the benefits of appreciation. Its a cyclical pattern however it all points back to housing - you have to live somewhere right?
So exactly how does housing create these jobs? It is believed that every new, single-family home built creates & sustains almost 5 jobs a year...on one house! Think about it...construction jobs, manufacturing jobs, transportation jobs, retail/home improvement jobs, Realtors (yay!), mortgage lenders/bankers, landscapers, cable/internet providers, etc. Now think about a whole subdivision or neighborhood being built - that's a lot of jobs!
So where is the housing market headed? Construction has risen to nearly 900,000 homes per year and is likely to double in the next few years. This is all reliant on demand (expected demand) from new households and buyers. Hundreds of thousands of Americans have put off their plans to purchase/build a home for the past few years because of the tough job market. The good news is that things have already begun looking better throughout 2012 and already into 2013. It will be interesting to see how things finish out in 2013 but I will say that based upon my 1st hand experience in the marketplace that I am very excited for the direction we are headed and the outlook ahead, especially in the Louisville, KY area.
Sean S. Williams
Licensed Broker, Realtor®, ABR®, e-Pro®
1st Time Buyer & Relocation Specialist
of Louisville, Kentucky
"Eat. Sleep. Real Estate."
*Serving the Louisville, Kentucky & Surrounding Areas.
Trust in a dedicated Real Estate professional to cater to your needs.
Accredited Buyer Representative® , e-Pro®, First-Time Home Buyer Specialist & Louisville Relocation Specialist.
I would love to assist you today!*