Several years ago, when the United States was in the grips of the Great Recession, things were looking rather bleak for a large number of people at every economic level. People were losing jobs and finding it difficult to get more work. The financial bubble the country lived in burst and the economy, the stock market, and the real estate market fell quickly and deeply. They fell to a level that made it seem almost impossible to recover fully. It was a very frightening time for a number of people in the country. They lost homes, marriages, and their livelihood. It was the biggest financial fall the nation had suffered in many decades.
Now, years later, things are really turning around in a good way. Most of the experts agree that the United States is seeing a large surge when it comes to recovering. The Federal Reserve even certified that the economy is stable. President Obama points to a drop in the deficit as well as a massive boom in the energy output of the United States. These things are helping the country get stable footing in the world economy. More people are going to work, businesses are growing, and things are looking good for every sector of the country.
The unemployment rate in October of 2014 was 5.8%. This is the lowest it’s actually been since July of 2008. The forecast for growth in the U.S. economy is 3.1% in 2015. This is far higher than the expected growth in other countries around the world, and that should be very exciting for people in the U.S. It means that things really are turning around for the better. They even closed down the stimulus program, feeling it is no longer necessary as a means to beef up the economy.
Another area that’s been providing some relief to the wallets of people across the country is gas. The price of gas is lower than it has been in years, and saving at the pump means more savings in the bank, or more money to put back into other areas of the economy.
Learn More About the South Florida Housing Market
Check out our latest blog to discover even more positive news about the current state of the South Florida real estate market, and how it’s benefiting from positive US housing market trends.
And for all of your South Florida real estate investing and selling needs make sure to contact us at Galante Real Estate. We would love to assist you every step of the way!